By Kiku Steinfeld
Chicago, Oct. 12 – Barclays Bank plc priced $2 million of buffered autocallable fixed-coupon notes due July 28, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual coupon at 3.65% per year.
The notes will be automatically called at par if each index closes at or above its initial level on any semiannual call date after one year.
If the notes are not called and the index finishes at or above 80% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1.25% for each 1% index decline beyond the 20% buffer.
Barclay is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable fixed-coupon notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $2 million
|
| Maturity: | July 28, 2025
|
| Coupon: | 3.65% per year paid semiannually
|
| Price: | Par
|
| Call: | At par if index closes at or above initial level on any semiannual call date after one year
|
| Payout at maturity: | Par unless index finishes below buffer level, in which case 1.25% loss for each 1% decline of index beyond buffer level
|
| Initial level: | 4,411.79
|
| Buffer level: | 3,529.43, 80% of initial level
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Agent: | Barclays
|
| Fees: | None
|
| Cusip: | 06748W6X6
|
|
|
|
|
© 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.
