Published on 10/7/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.9 million buffered autocallables linked to Russell, iShares MSCI EAFE
By Angela McDaniels
Tacoma, Wash., Oct. 7 – Barclays Bank plc priced $8.9 million of 0% buffered autocallable notes due April 10, 2018 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 11.75% if each underlying closes at or above its initial level on any quarterly call valuation date.
If the return of the lesser-performing underlying is at least negative 20%, the payout at maturity will be par plus 7%. Otherwise, investors will lose 1.25% for every 1% decline of the lesser-performing underlying beyond 20%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable notes
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Underlyings: | Russell 2000 index, iShares MSCI EAFE ETF
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Amount: | $8,901,000
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Maturity: | April 10, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 7% unless either underlying falls by more than 20%, in which case 1.25% loss per 1% decline of lesser-performing underlying beyond 20%
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Call: | Automatically at par plus 11.75% per year if each underlying closes at or above initial level on quarterly call valuation date
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Initial levels: | 1,239.78 for index and $58.96 for ETF
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Pricing date: | Oct. 5
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Settlement date: | Oct. 11
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Agent: | Barclays
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Fees: | 0.05%
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Cusip: | 06741VCZ3
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