| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers B > Headlines for Barclays Bank plc > News item |
Barclays prices $8.2 million of ETF-linked notes; JPMorgan Chase offers $1.02 million equity-linked notes
By Sheri Kasprzak
New York, June 13 – New-issue action was subdued to kick off the week, led by an offering from Barclays Bank plc.
Barclays priced $8.2 million of buffered contingent coupon notes linked to the lesser performing of the SPDR S&P 500 exchange-traded fund and the iShares Russell 2000 exchange-traded fund.
The notes are due June 9, 2017 and pay a quarterly contingent coupon at the rate of 8.15% per year if each ETF closes at or above its barrier level, 90% of its initial level, on the observation date for that quarter.
The payout at maturity is par unless the final share price of the lesser-performing ETF is less than its barrier level, in which case investors will receive either par minus 1% for every 1% that the lesser-performing ETF declines beyond 10% or, at the issuer’s option, $100 in cash and a number of shares of the lesser-performing ETF equal to $1,000 divided by that ETF’s initial share price.
Barclays was the agent for the deal.
JPMorgan prices notes
Elsewhere during the session, JPMorgan Chase Financial Co. LLC priced $1.02 million of autocallable contingent interest notes linked to the least performing of three oil companies, the common stocks of Apache Corp., Chevron Corp. and Exxon Corp.
The notes pay a contingent quarterly coupon at an annual rate of 13.35% if each stock closes above its 60% barrier level on a review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the final coupon unless any stock closes below its barrier level, in which case investors are exposed to any losses of the worst-performing stock.
JPMorgan Chase & Co. guaranteed the notes and J.P. Morgan Securities LLC was the agent for the deal.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.