By William Gullotti
Buffalo, N.Y., March 31 – Barclays Bank plc priced $1.33 million of autocallable contingent coupon notes due March 27, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 8.5% if the index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that period. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be automatically called at par plus the contingent coupon if the index closes at or above its initial level on any semiannual review date.
If the notes have not been called and the index finishes at or above the 70% trigger level, the payout at maturity will be par plus all unpaid coupons.
Otherwise, investors will lose 1% for every 1% decline of the index from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable contingent coupon notes
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Underlying index: | S&P 500 index
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Amount: | $1,327,000
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Maturity: | March 27, 2026
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Coupon: | 8.5% annual rate, payable semiannually if the index closes at or above coupon barrier level on the review date for that period; coupon payment events will automatically include any previously unpaid coupons
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Price: | Par
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Payout at maturity: | If the index finishes at or above trigger level, par plus all unpaid coupons; otherwise, full exposure to index decline from initial level
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Call: | Automatically at par plus contingent coupon if the index closes at or above initial level on any semiannual review date
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Initial level: | 3,970.99
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Coupon barrier: | 2,779.69; 70% of initial level
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Trigger level: | 2,779.69; 70% of initial level
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Pricing date: | March 24
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Settlement date: | March 29
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Agent: | Barclays
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Fees: | 0.45%
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Cusip: | 06749NVV1
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