By Kiku Steinfeld
Chicago, Jan. 11 – Barclays Bank plc priced $10 million of autocallable contingent interest notes due Jan. 12, 2022 linked to the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF closes at or above the coupon barrier level – 80% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at an annualized rate of 7.15%, in which case any previously unpaid coupons will also be paid.
If the shares close at or above the initial price on any quarterly review date other than the final one, the notes will be called at par.
The payout at maturity will be par unless the ETF closes below the 80% buffer level, in which case investors will lose 1.25% for every 1% decline of the ETF beyond 20%.
Barclays is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA acting as the placement agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | iShares Russell 2000 ETF
|
| Amount: | $10 million
|
| Maturity: | Jan. 12, 2022
|
| Coupon: | 7.15%, payable each quarter that ETF closes at or above coupon barrier on review date for that quarter, in which case any previously unpaid coupons will also be paid
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless ETF closes below buffer, in which case 1.25% loss for every 1% decline beyond buffer
|
| Call: | Par if shares close at or above initial price on any quarterly review date other than final one
|
| Initial level: | $204.53
|
| Coupon barrier level: | $163.62; 80% of initial price
|
| Buffer level: | $163.62; 80% of initial price
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 12
|
| Agents: | Barclays with J.P. Morgan Securities LLC with JPMorgan Chase Bank, NA as placement agent
|
| Fees: | 0.5%
|
| Cusip: | 06747QW78
|
|
|
© 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.
