Published on 9/27/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.35 million annual autocallable notes on SPDR MidCap, Russell
By Susanna Moon
Chicago, Sept. 27 - Barclays Bank plc priced $1.35 million of 0% annual autocallable notes due Sept. 29, 2016 linked to the lesser performing of the SPDR S&P MidCap 400 exchange-traded fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 10.8% per year if both components close at or above their initial levels on any annual call date.
The payout at maturity will be par unless either component finishes below the trigger level, in which case investors will be fully exposed to any losses of the lesser performing component.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual autocallable notes
|
| Underlying components: | SPDR S&P MidCap 400 ETF and Russell 2000
|
| Amount: | $1.35 million
|
| Maturity: | Sept. 29, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Par plus annualized call premium of 10.8% if both components finish at or above their initial levels on
|
| Payout at maturity: | Par if lesser performing component finishes above trigger level; otherwise, full exposure to any losses
|
| Initial levels: | $225.77 for midcap fund, 1,073.51 for Russell
|
| Barrier levels: | $180.62 for midcap fund, 858.81 for Russell; 80% of initial price
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | Barclays
|
| Fees: | 2.25%
|
| Cusip: | 06741TH75
|
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