Published on 2/9/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.61 million 10% autocallables linked to Russell 2000, Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Feb. 9 – Barclays Bank plc priced $1.61 million of 10% autocallable notes due Aug. 10, 2017 linked to the lesser 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 automatically called at par if each index closes at or above its initial level on Feb. 6, 2017 or May 5, 2017.
The payout at maturity will be par unless the final level of the lesser-performing index is less than its initial level and either index closes below its barrier level, 70% of its initial level, on any day during the life of the notes, in which case investors will be fully exposed to the decline of the lesser-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $1.61 million
|
| Maturity: | Aug. 10, 2017
|
| Coupon: | 10%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless final level of lesser-performing index is less than initial level and either index closes below barrier level on any day during life of notes, in which case full exposure to decline of lesser-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on Feb. 6, 2017 or May 5, 2017
|
| Initial index levels: | 985.62 for Russell 2000 and 2,879.39 for Euro Stoxx 50
|
| Barrier level: | 689.93 for Russell 2000 and 2,015.57 for Euro Stoxx 50; 70% of initial levels
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 10
|
| Agent: | Barclays
|
| Fees: | 0.9%
|
| Cusip: | 06741U4U5
|
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