New Issue: Barclays sells $1.24 million phoenix autocallable notes on energy fund

By Wendy Van Sickle

Columbus, Ohio, April 9 – Barclays Bank plc priced $1.24 million of phoenix autocallable notes due Sept. 30, 2022 linked to the common fund of Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11.25% if the fund closes at or above its 70% coupon barrier on the related observation date.

The notes will be called at par plus the contingent coupon if the fund closes at or above its initial share price on any quarterly call observation date.

The payout at maturity will be par unless the fund finishes below 70% of its initial value, in which case investors will be fully exposed to the decline.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying fund:	Energy Select Sector SPDR fund
Amount:	$1,241,000
Maturity:	Sept. 30, 2022
Coupon:	11.25% annualized, payable quarterly if fund closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	Par unless fund finishes below final barrier, in which case full exposure to decline
Call:	At par plus contingent coupon if fund closes at or above initial share price on any quarterly call observation date
Initial share price:	$50.43
Coupon barrier level:	$35.30, 70% of initial level
Final barrier level:	$35.30, 70% of initial level
Pricing date:	March 26
Settlement date:	March 31
Agent:	Barclays
Fees:	2.175%
Cusip:	06748EDP5

© 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.