Published on 11/22/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.15 million annual autocallable notes tied to S&P, oil & gas ETF
By Marisa Wong
Morgantown, W.Va., Nov. 22 – Barclays Bank plc priced $5.15 million of 0% annual autocallable notes due Nov. 23, 2020 linked to the lesser performing index of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized call premium of 14.25% if each underlying closes at or above its initial level on any of four annual call valuation dates.
If the notes are not called and the final level of the lesser-performing underlying is at least 50% of its initial level, the payout at maturity will be par plus the digital percentage of 10%. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing underlying from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual autocallable notes
|
| Underlying assets: | S&P 500 index, SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $5,146,000
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| Maturity: | Nov. 23, 2020
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the final level of the lesser-performing underlying is at least 50% of its initial level, par plus 10%; otherwise, 1% loss for each 1% decline of the lesser-performing underlying from its initial level
|
| Call: | At par plus an annualized call premium of 14.25% if each underlying closes at or above its initial level on any of four annual call valuation dates
|
| Initial levels: | 2,181.90 for index, $38.35 for ETF
|
| Barrier levels: | 1,090.95 for index, $19.18 for ETF; 50% of initial levels
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| Pricing date: | Nov. 18
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| Settlement date: | Nov. 28
|
| Agent: | Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06741VDR0
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