New Issue: Barclays prices $29.23 million market-linked step-up autocallables on MSCI EM index
By Wendy Van Sickle
Columbus, Ohio, June 30 – Barclays Bank plc priced $29.23 million of 0% autocallable market-linked step-up notes due June 26, 2020 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 9.8% 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, 130% 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 30%.
Investors will be fully exposed to any index decline.
BofA Merrill Lynch is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | MSCI Emerging Markets
|
| Amount: | $29,227,360
|
| Maturity: | June 26, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus a 9.8% 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 30%; full exposure to any index decline
|
| Initial level: | 1,014.02
|
| Step-up level: | 1,318.23, 130% of initial level
|
| Pricing date: | June 29
|
| Settlement date: | July 7
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
|
|
| Cusip: | 06746K689
|
|
|
|
|
© 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.
