By Susanna Moon
Chicago, Feb. 4 - Barclays Bank priced $7.73 million of phoenix autocallable notes due March 1, 2017 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon of 1.7875% for each quarter that the fund closes at or above the coupon barrier level, 90% of the initial share price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above the initial price on any quarterly observation date beginning March 2, 2015.
If the notes are not called and the fund finishes at or above the 80% trigger, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $7,731,000
|
| Maturity: | March 1, 2017
|
| Coupon: | 1.7875% for each quarter that fund close at or above barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If fund finishes at or above barrier price, par plus contingent coupon; otherwise, full exposure to any losses
|
| Call: | At par plus contingent coupon if fund closes at or above initial price on any quarterly observation date beginning March 2, 2015
|
| Initial share price: | $84.47
|
| Coupon barrier level: | $76.02, 90% of initial level
|
| Buffer amount: | 20% of initial price
|
| Pricing date: | Jan. 30
|
| Settlement date: | Feb. 4
|
| Agent: | Barclays
|
| Fees: | 0.1%
|
| Cusip: | 06741T5F0
|
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