By Marisa Wong
Morgantown, W.Va., Jan. 31 – Barclays Bank plc priced $30,245,980 of 0% autocallable market-linked step-up notes due Jan. 26, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 5.37% if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level – 130% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 30%.
If the index falls by up to 15%, the payout will be par. Otherwise, investors will be exposed to any declines beyond 15%.
BofA Merrill Lynch is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $30,245,980
|
| Maturity: | Jan. 26, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 30%; par if index falls by up to 15%; exposure to declines beyond 15%
|
| Call: | At par plus 5.37% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 2,839.25
|
| Step-up value: | 3,691.03, 130% of initial level
|
| Threshold value: | 2,413.36, 85% of initial level
|
| Pricing date: | Jan. 25
|
| Settlement date: | Feb. 1
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06746P787
|
© 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.
