Barclays plans 9.25%-9.75% phoenix autocallables on iShares MSCI ETF

By Sarah Lizee

Olympia, Wash., Oct. 17 – Barclays Bank plc plans to price phoenix autocallable notes due Oct. 24, 2023 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an annual rate of 9.25% to 9.75% if the underlying asset closes at or above its 70% coupon barrier on the observation date for that period.

The notes will be called at par plus the contingent coupon if the asset closes at or above its initial level on any call valuation date other than the final date beginning with the second date.

The payout at maturity will be par unless the underlying asset finishes below its initial level and ever closes below its 70% trigger level during the life of the notes, in which case investors will be exposed to any losses.

Barclays is the agent.

The notes will price on Oct. 19 and settle on Oct. 24.

The Cusip number is 06746XV26.

© 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.