By Marisa Wong
Morgantown, W.Va., Sept. 8 – Barclays Bank plc priced $1.25 million of 7.6% autocallable notes due March 2, 2017 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if each index closes at or above its initial level on Aug. 29, 2016 or Nov. 28, 2016.
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 a knock-in event occurs, in which case the payout will be par plus the return of the lesser performing index.
A knock-in event occurs if either index closes below its 70% barrier level on any day during the life of the notes.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $1,245,000
|
| Maturity: | March 2, 2017
|
| Coupon: | 7.6%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless the final level of the lesser performing index is less than its initial level and a knock-in event occurs, in which case par plus the return of the lesser performing index
|
| Knock-in event: | Either index closes below its barrier level on any day during the life of the notes
|
| Call: | At par if each index closes at or above initial level on Aug. 29, 2016 or Nov. 28, 2016
|
| Initial levels: | 1,162.91 for Russell and 3,286.59 for Euro Stoxx
|
| Barrier levels: | 814.04 for Russell and 2,300.61 for Euro Stoxx; 70% of initial levels
|
| Pricing date: | Aug. 28
|
| Settlement date: | Sept. 2
|
| Underwriter: | Barclays
|
| Fees: | 0.9%
|
| Cusip: | 06741UF82
|
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