By Marisa Wong
Morgantown, W.Va., June 18 – Barclays Bank plc priced $8.5 million of 0% autocallable market-linked step-up notes due June 29, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 12.6% if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level – 150% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 50%.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond the buffer.
BofA Merrill Lynch is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $8.5 million
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| Maturity: | June 29, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If index gains by more than 50%, par plus return; if index gains by up to 50%, par plus 50%; par if index falls by up to 10%; exposure to any losses beyond 10%
|
| Call: | At par plus 12.6% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 3,527.11
|
| Step-up value: | 5,290.67, 150% of initial level
|
| Threshold level: | 3,174.40, 90% of initial level
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| Pricing date: | June 14
|
| Settlement date: | June 21
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06746T797
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