Published on 6/3/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $13.26 million contingent income autocallables linked to three indexes
By Angela McDaniels
Tacoma, Wash., June 3 – Barclays Bank plc priced $13.26 million of contingent income autocallable securities due June 3, 2022 linked to the worst performing of the MSCI Emerging Markets index, the Russell 2000 index and the Euro Stoxx Banks 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 10.25% if each index closes at or above its coupon barrier level, 75% 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 any index finishes below its downside threshold level, 55% of its initial 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 is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | MSCI Emerging Markets, Russell 2000 and Euro Stoxx Banks
|
| Amount: | $13,264,700
|
| Maturity: | June 3, 2022
|
| Coupon: | 10.25% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless any 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: | 1,004.22 for MSCI Emerging Markets, 1,246.532 for Russell 2000 and 153.89 for Euro Stoxx Banks
|
| Coupon barriers: | 753.165 for MSCI Emerging Markets, 934.899 for Russell 2000 and 115.418 for Euro Stoxx Banks; 75% of initial levels
|
| Downside thresholds: | 552.321 for MSCI Emerging Markets, 685.593 for Russell 2000 and 84.640 for Euro Stoxx Banks; 55% of initial levels
|
| Pricing date: | May 29
|
| Settlement date: | June 3
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3.5%
|
| Cusip: | 06743P319
|
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