Published on 9/9/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.62 million review notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Sept. 9 – Barclays Bank plc priced $1.62 million of 0% review notes due Sept. 7, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 10.35% per year if the index closes at or above its initial level on Sept. 16, 2016, March 6, 2017 or Sept. 1, 2017.
The payout at maturity will be par unless the index falls by more than 10%, in which case investors will be fully exposed to the index’s decline.
Barclays is the underwriter with J.P. Morgan Securities LLC as agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Review notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,618,000
|
| Maturity: | Sept. 7, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 10%, in which case full exposure to index’s losses
|
| Call: | Automatically at par plus annualized premium of 10.35% if the index closes at or above its initial level on Sept. 16, 2016, March 6, 2017 or Sept. 1, 2017
|
| Initial level: | 1,921.22
|
| Barrier value: | 1,729.10, 90% of initial level
|
| Final index level: Average of index’s closing levels on five trading days ending Sept. 1, 2017
|
| Pricing date: | Sept. 4
|
| Settlement date: | Sept. 10
|
| Underwriter: | Barclays
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 06741UH72
|
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