New Issue: Barclays prices $448,000 phoenix autocallables linked to Russell 2000, Euro Stoxx 50

By Angela McDaniels

Tacoma, Wash., June 30 – Barclays Bank plc priced $448,000 of phoenix autocallable notes due Dec. 30, 2016 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 7.6% per year if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.

Beginning in December 2015, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date.

If the notes are not called, the payout at maturity will be par unless the final level of the lesser-performing index is less than its initial level and either index closes below its barrier level on any day during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying indexes:	Russell 2000 and Euro Stoxx 50
Amount:	$448,000
Maturity:	Dec. 30, 2016
Coupon:	Each quarter, notes pay contingent coupon at rate of 7.6% per year if each index closes at or above barrier level on observation date for that quarter; otherwise, no coupon paid that quarter
Price:	Par
Payout at maturity:	Par unless final level of lesser-performing index is less than initial level and either index closes below barrier level on any day during life of notes, in which case 1% loss for every 1% that lesser-performing index finishes below initial level
Call:	Beginning in December 2015, notes will be called at par plus contingent coupon if each index closes at or above its initial level on any quarterly observation date
Initial index levels:	1,283.28 for Russell 2000 and 3,610.91 for Euro Stoxx 50
Barrier levels:	962.46 for Russell 2000 and 2,708.18 for Euro Stoxx 50; 75% of initial levels
Pricing date:	June 25
Settlement date:	June 30
Agent:	Barclays
Fees:	2.75%
Cusip:	06741UXU3

© 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.