By Angela McDaniels
Tacoma, Wash., June 3 – Barclays Bank plc priced $5.85 million of contingent income autocallable securities due June 3, 2020 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7% if each index closes at or above its downside threshold level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any determination date other than the final determination date.
The payout at maturity will be par unless either index finishes below its downside threshold level, in which case investors will be fully exposed to the decline of the worst-performing index.
Barclays is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $5.85 million
|
| Maturity: | June 3, 2020
|
| Coupon: | 7% per year, payable quarterly if each index closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold level, in which case exposure to decline of worst-performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly determination date other than final one
|
| Initial index levels: | 1,246.532 for Russell 2000 and 3,570.78 for Euro Stoxx 50
|
| Downside threshold: | 872.572 for Russell 2000 and 2,499.546 for Euro Stoxx 50; 70% of initial levels
|
| Pricing date: | May 29
|
| Settlement date: | June 3
|
| Agent: | Barclays
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06743N553
|
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