Published on 9/27/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.89 million annual autocallable notes linked to Euro Stoxx 50, S&P 500
By Angela McDaniels
Tacoma, Wash., Sept. 27 - Barclays Bank plc priced $3.89 million of 0% annual autocallable notes due Sept. 29, 2016 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 11.5% per year if each index closes at or above its call level on any annual call valuation date. For each index, the call level is 100% of the initial level on the first call valuation date, 95% of the initial level on the second call valuation date and 90% of the initial level on the last call valuation date.
If the notes are not called and the final level of the lesser-performing index is at least 75% of its initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the lesser-performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual autocallable notes
|
| Underlying indexes: | Euro Stoxx 50 and S&P 500
|
| Amount: | $3,889,000
|
| Maturity: | Sept. 29, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Par plus call premium of 11.5% per year if both indexes close at or above their respective call levels on Oct. 1, 2014, Sept. 25, 2015 or Sept. 26, 2016; call level is 100% of initial level on first call valuation date, 95% of initial level on second call valuation date and 90% of initial level on last call valuation date
|
| Payout at maturity: | Par if final level of lesser-performing index is at least 75% of initial level; otherwise, full exposure to decline of lesser-performing index
|
| Initial index levels: | 2,927.35 for Euro Stoxx 50 and 1,692.77 for S&P 500
|
| Barrier levels: | 2,195.51 for Euro Stoxx 50 and 1,269.58 for S&P 500; 75% of initial levels
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | Barclays
|
| Fees: | 2.25%
|
| Cusip: | 06741TN60
|
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