Published on 7/31/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.16 million phoenix autocallables linked to S&P 500, Russell 2000
By Toni Weeks
San Luis Obispo, Calif., July 31 – Barclays Bank plc priced $2.16 million of phoenix autocallable notes due July 31, 2025 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.95% if each index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.
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 beginning after one year.
If the notes are not called and each index finishes at or above its barrier level, 65% of the initial level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses of the worst-performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $2,156,000
|
Maturity: | July 31, 2025
|
Coupon: | 7.95% annualized for each quarter that each index closes at or above coupon barrier level on quarterly observation date
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above 65% barrier level, par plus coupon; otherwise, full exposure to losses of worst-performing index
|
Call: | At par if each index closes at or above initial level on any quarterly observation date beginning July 28, 2016
|
Initial levels: | 2,093.25 for S&P, 1,224.6 for Russell
|
Coupon barrier levels: | 1,569.94 for S&P, 918.45 for Russell, 75% of initial levels
|
Barrier levels: | 1,360.61 for S&P, 795.99 for Russell, 65% of initial levels
|
Pricing date: | July 28
|
Settlement date: | July 31
|
Agents: | UBS Financial Services Inc. and Barclays
|
Fees: | 3.25%
|
Cusip: | 06741UZP2
|
© 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.