Published on 12/4/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.94 million contingent income autocallables on Russell, Euro Stoxx
By Susanna Moon
Chicago, Dec. 4 - Barclays Bank plc priced $1.94 million of contingent income autocallable securities due July 15, 2016 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent payment of 1.7625% per quarter that each index closes at or above its 75% coupon barrier level on a quarterly determination date.
The notes will be called at par plus the contingent payment if each index closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par plus the final contingent payment unless any index finishes below its 75% downside threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
Barclays is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Russell 2000 index and the Euro Stoxx 50 index
|
| Amount: | $1,942,000
|
| Maturity: | July 15, 2016
|
| Coupon: | 1.7625% for each quarter that each index closes at or above coupon barrier level on quarterly determination date
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par plus final contingent payment; otherwise, full exposure to losses of worst performing index
|
| Call: | At par plus contingent payment if each index closes at or above initial level on any determination date other than the final one
|
| Initial levels: | 1,142.89 for Russell, 3,086.64 for S&P
|
| Trigger levels: | 857.17 for Russell, 2,314.98 for S&P; 75% of initial share price
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 4
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3%
|
| Cusip: | 06742E380
|
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