New Issue: Barclays prices $1 million phoenix autocallables linked to indexes, ETF

By Angela McDaniels

Tacoma, Wash., Aug. 27 – Barclays Bank plc priced $1 million of phoenix autocallable notes due Aug. 29, 2018 linked to the least performing of the Russell 2000 index, the S&P 500 index and the SPDR Euro Stoxx 50 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 7.25% per year if each component closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that month. Otherwise, no coupon will be paid 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 observation date.

If the notes are not called and the final level of the least-performing component is greater than or equal to its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing component finishes below its initial level.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying components:	Russell 2000 index, S&P 500 index and SPDR Euro Stoxx 50 ETF
Amount:	$1 million
Maturity:	Aug. 29, 2018
Coupon:	7.25% per year if each component closes at or above its coupon barrier level on observation date for that month; otherwise, no coupon will be paid for that month
Price:	Par
Payout at maturity:	If final level of least-performing component is greater than or equal to barrier level, par; otherwise, 1% loss for every 1% that least-performing component finishes below its initial level
Call:	At par plus contingent coupon if each component closes at or above its initial level on any quarterly observation date
Initial levels:	1,893.21 for S&P 500, 1,111.69 for Russell 2000 and $34.67 for ETF
Coupon barrier levels:	1,230.59 for S&P 500, 722.60 for Russell 2000 and $22.54 for ETF; 65% of initial levels
Barrier levels:	1,135.93 for S&P 500, 667.01 for Russell 2000 and $20.80 for ETF; 60% of initial levels
Pricing date:	Aug. 24
Settlement date:	Aug. 27
Underwriter:	Barclays
Fees:	3%
Cusip:	06741UF74

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