New Issue: Barclays prices $1.6 million phoenix autocallables linked to Euro Stoxx 50, Russell 2000

By Angela McDaniels

Tacoma, Wash., Jan. 5 – Barclays Bank plc priced $1.6 million of phoenix autocallable notes due Jan. 5, 2026 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 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 8.5% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.

Beginning in December 2016, 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 other than the final one.

If the notes are not called, the payout at maturity will be par plus the final contingent coupon, if any, unless either index finishes below its barrier level, 50% of its initial level, 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:	Euro Stoxx 50 and Russell 2000
Amount:	$1.6 million
Maturity:	Jan. 5, 2026
Coupon:	Each quarter, notes pay contingent coupon at rate of 8.5% per year if each index closes at or above coupon barrier level on observation date for that quarter; otherwise, no coupon paid that quarter
Price:	Par
Payout at maturity:	Par plus final contingent coupon, if any, unless either index finishes below barrier level, in which case 1% loss for every 1% that lesser-performing index finishes below initial level
Call:	Beginning in December 2016, automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date other than final one
Initial index levels:	3,314.28 for Euro Stoxx 50 and 1,160.52 for Russell 2000 (closing levels on Dec. 29)
Coupon barriers:	2,320.00 for Euro Stoxx 50 and 812.36 for Russell 2000; 70% of initial levels
Barrier levels:	1,657.14 for Euro Stoxx 50 and 580.26 for Russell 2000; 50% of initial levels
Pricing date:	Dec. 30
Settlement date:	Jan. 5
Agent:	Barclays
Fees:	3.35%
Cusip:	06741U2T0

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