Published on 1/4/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.54 million autocallables linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Jan. 4 – Barclays Bank plc priced $3.54 million of autocallable securities due Jan. 5, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Jan. 3, 2017, the notes will be called at par of $10 plus an annualized premium of 9.1% if the index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par of $10 plus 45.5% if the index closes at or above its initial level on the final review date. If the index closes below its initial level but at or above the trigger value, 75% of the initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
Issuer: | Barclays Bank plc
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Issue: | Autocallable securities
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Underlying index: | Euro Stoxx 50
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Amount: | $3,536,000
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Maturity: | Jan. 5, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 45.5% if index finishes at or above initial level; par if index closes below initial level but at or above trigger value; otherwise, full exposure to index’s decline
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Call: | Beginning Jan. 3, 2017, automatically at par plus annualized premium of 9.1% if index closes at or above initial level on any quarterly review date
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Initial level: | 3,287.98
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Trigger value: | 2,465.985, 75% of initial level
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Pricing date: | Dec. 30
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Settlement date: | Jan. 5
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Agent: | Barclays
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Selected dealer: | Morgan Stanley Wealth Management
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Fees: | 3%
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Cusip: | 06743T394
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