By William Gullotti
Buffalo, N.Y., June 29 – Barclays Bank plc priced $16.88 million of autocallable market-linked step-up notes due June 28, 2024 linked to an international equity basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Goldman Sachs Group, Inc. (33.34% weight), JPMorgan Chase & Co. (33.33% weight) and Morgan Stanley (33.33% weight).
The notes will be called at par of $10 plus a call premium of 11.5% a year if the basket closes at or above its initial level on any annual call date.
If the notes are not called and the basket finishes above the step-up value, 145% of the initial level, the payout at maturity will be par plus the basket gain.
If the basket finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 45%.
Investors will lose 1% for every 1% basket decline.
BofA Securities, Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying basket: | Goldman Sachs Group, Inc. (33.34% weight), JPMorgan Chase & Co. (33.33% weight), Morgan Stanley (33.33% weight)
|
| Amount: | $16,881,660
|
| Maturity: | June 28, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket finishes above step-up level, par plus basket gain; if basket finishes at or above initial level but at or below step-up level, par plus 45%; 1% loss for each 1% basket decline
|
| Call: | At par plus 11.5% a year if basket closes at or above its initial level on any annual call date
|
| Initial stock levels: | $368.75 for Goldman Sachs, $152.51 for JPMorgan, $87.08 for Morgan Stanley
|
| Step-up level: | 145% of initial level
|
| Pricing date: | June 24
|
| Settlement date: | July 1
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06747T374
|
|
|
© 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.
