Barclays plans phoenix autocallables linked to two indexes, one fund

By Susanna Moon

Chicago, Aug. 21 – Barclays Bank plc plans to price phoenix autocallable notes due Aug. 29, 2018 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the SPDR Euro Stoxx 50 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 6.25% if each component closes at or above the 65% coupon barrier level on an observation date for that month.

The notes will be called at par plus the contingent coupon if each component closes at or above its initial level on any quarterly call date.

The payout at maturity will be par unless any component finishes below the 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.

Barclays is the agent.

The notes will price on Aug. 24 and settle on Aug. 27.

The Cusip number is 06741UF74.

© 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.