By Susanna Moon
Chicago, Dec. 16 – Barclays Bank plc priced $1 million of phoenix autocallable notes due Dec. 14, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 8.25% if the index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that period.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless the index finishes below its 75% barrier level, in which case investors will be fully exposed to any losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1 million
|
| Maturity: | Dec. 14, 2021
|
| Coupon: | 8.25% per year, payable semiannually if index closes at or above barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus the contingent coupon unless index finishes below 60% barrier level, in which case full exposure to any losses
|
| Call: | At par plus the contingent coupon if index closes at or above its initial level on any observation date other than final date
|
| Initial level: | 2,259.53
|
| Barrier level: | 1,694.65, 75% of initial level
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 14
|
| Agent: | Barclays
|
| Fees: | None
|
| Cusip: | 06741VF98
|
|
|
|
|
© 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.
