By Devika Patel
Knoxville, Tenn., Dec. 27 – Barclays Bank plc priced $3,366,000 of phoenix autocallable notes due Dec. 26, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 11.2% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that month. Otherwise, no coupon will be paid for that month.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one beginning on March 20, 2019.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon unless either index finishes below its initial level and either index closes below its 70% barrier level on any day during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $3,366,000
|
| Maturity: | Dec. 26, 2019
|
| Coupon: | 11.2% per year payable monthly if each index closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent coupon unless either index finishes below initial level and either index closes below barrier level on any day during life of notes, in which case 1% loss for every 1% that lesser-performing index finishes below initial level
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date other than final one beginning on March 20, 2019
|
| Initial index levels: | 1,326 for Russell and 2,467.42 for S&P
|
| Coupon/barrier levels: | 928.20 for Russell and 1,727.19 for S&P; 70% of initial levels
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 26
|
| Agent: | Barclays
|
| Fees: | 0.675%
|
| Cusip: | 06747M2C9
|
© 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.
