By Susanna Moon
Chicago, Oct. 3 – Barclays Bank plc priced $134,000 of phoenix autocallable notes due March 27, 2020 linked to the lesser performing of the Technology Select Sector SPDR fund and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.15% if each fund closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any observation date beginning with the second date other than the final date.
The payout at maturity will be par unless either fund finishes below its initial level and ever closes 60% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses to the worse performing fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying funds: | Technology Select Sector SPDR fund and the SPDR S&P Biotech ETF
|
| Amount: | $134,000
|
| Maturity: | March 27, 2020
|
| Coupon: | 8.15% per year, payable quarterly if each fund closes at or above 60% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless either fund finishes below its initial level and ever closes below 60% knock-in level, in which case 1% loss for each 1% decline of worse performing fund
|
| Call: | At par plus contingent coupon if each fund closes at or above initial level on any review date beginning with the second date other than final date
|
| Initial levels: | $58.04 for tech fund, $83.25 for biotech fund
|
| Trigger levels: | $34.82 for tech fund, $49.95 for biotech fund, 60% of initial levels
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 29
|
| Agent: | Barclays
|
| Fees: | 2.55%
|
| Cusip: | 06744C2U4
|
|
|
|
|
© 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.
