Barclays plans autocallable notes due 2024 on S&P, Russell

By Sarah Lizee

Olympia, Wash., Nov. 22 – Barclays Bank plc plans to price 0% autocallable notes due Nov. 29, 2024 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 7.75% to 8.75% if each asset closes at or above its call level on any annual call valuation date. The call level will be 100% of the initial level.

If the notes are not called and the least performing asset finishes at or above its final call level, the payout at maturity will be par plus the call premium for the final valuation date.

If the least performing asset falls below its call level but finishes at or above its 70% barrier level, the payout will be par.

If either underlying asset finishes below its barrier level, investors will be exposed to any losses of the worse performing asset.

Barclays is the agent.

The notes will price on Nov. 25.

The Cusip number is 06747NPS7.

© 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.