New Issue: Barclays prices $23.88 million market-linked step-up notes on Hang Seng China

By Marisa Wong

Morgantown, W.Va., May 16 – Barclays Bank plc priced $23.88 million of 0% market-linked step-up notes due May 31, 2019 linked to the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the step-up value, the payout at maturity will be par of $10 plus the index return. The step-up value is 123% of the initial index level.

If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment of 23%.

If the final index level is less than the initial level, investors will have one-to-one exposure to the decline.

BofA Merrill Lynch is the agent.

Issuer:	Barclays Bank plc
Issue:	Market-linked step-up notes
Underlying index:	Hang Seng China Enterprises
Amount:	$23,879,000
Maturity:	May 31, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 23%; if final index level is less than initial level, one-to-one exposure to decline
Initial index level:	10,282.65
Step-up value:	12,647.66, 123% of initial level
Pricing date:	May 12
Settlement date:	May 19
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	06746J385

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