Published on 10/2/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 annual autocallables linked to two indexes
By Marisa Wong
Morgantown, W.Va., Oct. 2 – Barclays Bank plc priced $500,000 of 0% annual autocallable notes due Sept. 28, 2018 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 13.5% per year if each index closes at or above its initial level on any annual call valuation date.
If the notes are not called and the final level of the lesser-performing index is greater than or equal to its barrier level, 75% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-performing index from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Annual autocallable notes
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Underlying indexes: | S&P 500 and Euro Stoxx 50
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Amount: | $500,000
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Maturity: | Sept. 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of lesser-performing index is greater than or equal to barrier level, par; otherwise, full exposure to decline of least-performing index from initial level
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Call: | Automatically at par plus 13.5% per year if each index closes at or above its initial level on any annual call valuation date
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Initial index levels: | 1,931.34 for S&P 500, 3,113.16 for Euro Stoxx
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Barrier levels: | 1,448.51 for S&P 500, 2,334.87 for Euro Stoxx; 75% of initial levels
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Agent: | Barclays
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Fees: | 2.25%
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Cusip: | 06741UK78
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