By Angela McDaniels
Tacoma, Wash., Aug. 14 – Barclays Bank plc priced $13.81 million of 0% autocallable market-linked step-up notes due Aug. 27, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus a call premium if the index closes at or above the initial index level on Aug. 23, 2018 or Aug. 22, 2019. The call premium is 14.2% for the first observation date and 28.4% for the second observation date.
If the notes are not called and the final index level is greater than the step-up value, 130% of the initial index level, the payout at maturity will be par plus the index return.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 30%.
If the final index level is less than the initial level, investors will have one-to-one exposure to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $13,812,530
|
| Maturity: | Aug. 27, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 30%; if final index level is less than initial level, one-to-one exposure to index’s decline
|
| Call: | Automatically at par plus 14.2% per year if index closes at or above initial index level on Aug. 23, 2018 or Aug. 22, 2019
|
| Initial index level: | 3,433.54
|
| Step-up value: | 4,463.60, 130% of initial level
|
| Pricing date: | Aug. 10
|
| Settlement date: | Aug. 17
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06746L752
|
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