By Wendy Van Sickle
Columbus, Ohio, May 19 – Barclays Bank plc priced $8.6 million of 0% autocallable market-linked step-up notes due May 28, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 9.85 % a year if the index closes at or above its initial level on any annual call observation date.
If the index finishes above the step-up level, 125% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 25%.
Investors will receive par if the index falls by up to 5% and will be exposed to losses beyond 5%.
BofA Merrill Lynch is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $8.6 million
|
| Maturity: | May 28, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus a 9.85% annual call premium if the index closes at or above its initial level on any annual call date
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if index finishes at or below the step-up level but at or above the initial level, par plus 25%; par if index falls by up to 5%; exposure to losses beyond 5%
|
| Initial level: | 3,584.83
|
| Step-up level: | 4,481.04, 125% of initial level
|
| Pricing date: | May 17
|
| Settlement date: | May 24
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06746K101
|
|
|
© 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.
