By Wendy Van Sickle
Columbus, Ohio, Jan. 17 – Barclays Bank plc priced $10 million of autocallable contingent interest notes due Jan. 12, 2024 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid quarterly, if the underlying fund closes at or above its 85% coupon barrier level on the related quarterly observation date, plus any previously unpaid coupon.
The securities will be called automatically at par if the closing price of the underlying fund is greater than or equal to its initial price on any quarterly review date.
At maturity, the payout will be par unless the ETF finishes below its 85% buffer level, in which case investors will lose 1.1765% for each 1% decline of the ETF beyond 15%.
Barclays Capital Inc. is the agent with J.P. Morgan Securities LLC as placement agent.
Issuer: | Barclays Bank plc
|
Issue: | Autocallable contingent interest notes
|
Underlying ETF: | SPDR S&P 500 ETF trust
|
Amount: | $10 million
|
Maturity: | Jan. 12, 2024
|
Coupon: | 11.5%, paid quarterly, if the underlying fund closes at or above its 85% coupon barrier level on the related quarterly observation date, plus any previously unpaid coupon
|
Price: | Par
|
Payout at maturity: | Par unless the ETF finishes below its buffer level, in which case investors will lose 1.1765% for each 1% decline in the ETF beyond 15%
|
Call: | Automatically at par if the closing price of the underlying fund is greater than or equal to its initial price on any quarterly review date
|
Initial level: | $387.86
|
Buffer level: | $329.68, 85% of initial level
|
Pricing date: | Jan. 11
|
Settlement date: | Jan. 17
|
Agent: | Barclays Capital Inc. with J.P. Morgan Securities LLC as placement agent
|
Fees: | 0.2%
|
Cusip: | 06741WYR5
|
|
© 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.