By Wendy Van Sickle
Columbus, Ohio, Oct. 10 – Barclays Bank plc priced $6.03 million of buffered phoenix autocallable notes due April 1, 2026 linked to the least performing of the Euro Stoxx Banks index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.1% if each asset closes at or above its 70% coupon barrier on the observation date.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any observation date other than the final date, starting with the 12th date.
The payout at maturity will be par unless either asset falls by more than 30%, in which case investors will be exposed to any losses of the worst performing asset beyond 30%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered phoenix autocallable notes
|
| Underlying assets: | Euro Stoxx Banks index and VanEck Vectors Gold Miners ETF
|
| Amount: | $6,032,000
|
| Maturity: | April 1, 2026
|
| Coupon: | 9.1% annualized, payable monthly if each asset closes at or above 70% coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset falls by more than 30%, in which case exposure to any losses of worst performing asset beyond 20%
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any observation date other than final date beginning with the 12th date
|
| Initial levels: | $18.34 for ETF and 110.90 for index
|
| Coupon barriers: | $12.84 for ETF and 77.63 for index; 70% of initial levels
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 2
|
| Agent: | Barclays
|
| Fees: | 4.25%
|
| Cusip: | 06746XQU0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
