Published on 9/10/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.24 million annual autocallable notes on Russell, iShares MSCI EM
By Toni Weeks
San Luis Obispo, Calif., Sept. 10 – Barclays Bank plc priced $5.24 million of 0% annual autocallable notes due Sept. 14, 2017 linked to the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 12.4% per year if both the index and fund close at or above the applicable call value on an annual call valuation date. The call level is equal to the initial level for the first call valuation date, 95% of the initial level for the second call valuation date and 90% of the initial level for the final valuation date.
The payout at maturity will be par if the final level of the lesser-performing underlying is at least 75% of the initial share price. Otherwise, investors will be fully exposed to that decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual autocallable notes
|
| Underlying assets: | Russell 2000 index and iShares MSCI Emerging Markets index fund
|
| Amount: | $5,235,000
|
| Maturity: | Sept. 14, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Par plus annualized call premium of 12.4% per year if fund and index both finish at or above call level on annual call valuation date
|
| Payout at maturity: | Par if final level of the lesser-performing underlying is at least 75% of the initial share price; otherwise, full exposure to decline
|
| Initial levels: | 1,158.5 for index; $44.75 for fund
|
| Call levels: | 1,158.5 for index, $44.75 for fund, 100% of initial level for first valuation date; 1,100.58 for index, $42.51 for fund, 95% of initial level for second valuation date; 1,042.65 for index, $40.28 for fund, 90% of initial level for final date
|
| Barrier levels: | 868.88 for index; $33.56 for fund, 75% of initial levels
|
| Pricing date: | Sept 9
|
| Settlement date: | Sept. 12
|
| Agent: | Barclays
|
| Fees: | 2.25%
|
| Cusip: | 06741UJT2
|
© 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.
