By Angela McDaniels
Tacoma, Wash., April 30 - Barclays Bank plc priced $2.98 million of autocallable contingent payment notes due April 30, 2019 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if each index closes at or above its barrier level, 75% of its initial level, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent payment if each index closes at or above its initial level on any quarterly valuation date.
If the notes are not called and each index finishes at or above its barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent payment notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2.98 million
|
| Maturity: | April 30, 2019
|
| Coupon: | 8% per year, payable quarterly if each index closes at or above barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to losses of worst-performing index
|
| Call: | Automatically at par plus contingent payment if each index closes at or above initial level on any valuation date
|
| Initial index levels: | 1,863.40 for S&P 500 and 1,123.03 for Russell 2000
|
| Barrier levels: | 1,397.55 for S&P 500 and 842.27 for Russell 2000; 75% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741UCZ5
|
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