By Taylor Fox
New York, Nov. 23 – Barclays Bank plc priced $2.02 million of 0% autocallable market-linked step-up notes due Dec. 1, 2025 tied to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with an initial weight of 60%, Euro Stoxx 50 index with an initial weight of 30% and the S&P/ASX 200 index with an initial weight of 10%.
The notes will be called at par of $10 plus a premium of 5.65% per year if the basket's closing level is greater than or equal to 95% of the initial level on any annual observation date.
If the basket finishes above the step-up value, 140% of the initial value, the payout at maturity will be par plus the basket return.
If the basket return is zero or positive but the basket finishes at or below the step-up value, the payout will be par plus the step-up payment of 40%.
If the basket declines by up to 5%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the basket declines beyond 5%.
BofA Securities, Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying indexes: | S&P 500 index (60% weight), Euro Stoxx 50 (30% weight) and S&P/ASX 200 (10% weight each)
|
| Amount: | $2,020,000
|
| Maturity: | Dec. 1, 2025
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket finishes above step-up value, par plus basket return; if basket stays flat or gains but finishes at or below step-up value, par plus 40%; par if basket declines up to 5%; otherwise, 1% loss for every 1% that basket declines beyond 5%
|
| Call: | Automatically at par plus a premium of 5.65% per year if the basket's closing level is greater than or equal to 95% of the initial level on any annual observation date
|
| Initial levels: | 3,537.01 for S&P, 3,428.20 for Stoxx and 6,418.223 for ASX
|
| Step-up value: | 140% of initial value
|
| Threshold level: | 95% of initial level
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 19
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06747L603
|
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