By Wendy Van Sickle
Columbus, Ohio, Oct. 3 – Barclays Bank plc priced $7.29 million of 0% market-linked step-up notes due Sept. 25, 2020 linked to the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the step-up value – 116.2% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 16.2%.
Investors will lose 1% for each 1% index decline.
BofA Merrill Lynch is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Dow Jones Industrial Average
|
| Amount: | $7,291,300
|
| Maturity: | Sept. 25, 2020
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes at or above the step-up value, par plus the index gain; if the index is unchanged or gains by up to the step-up level, par plus 16.2%; otherwise, investors will lose 1% for each 1% index decline
|
| Initial level: | Lowest closing level of Dow from pricing date through Oct. 30
|
| Step-up level: | 116.2% of initial level
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 5
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 06746M602
|
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