Published on 5/13/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.84 million contingent income autocallables linked to two indexes
By Toni Weeks
San Luis Obispo, Calif., May 13 – Barclays Bank plc priced $4.84 million of contingent income autocallable securities due May 16, 2018 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly payment of 2.125%, or 8.5% per year, if each index closes at or above its downside threshold level, 75% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any determination date other than the final determination date.
The payout at maturity will be par unless either index finishes below its 75% downside threshold level, in which case investors will be fully exposed to the decline of the worst-performing index.
Barclays is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $4,841,000
|
| Maturity: | May 16, 2018
|
| Coupon: | 8.5% per year, payable quarterly if each index closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold level, in which case exposure to decline of worst-performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly determination date other than final date
|
| Initial levels: | 1,235.832 for Russell, 3,624.41 for Euro Stoxx
|
| Downside thresholds: | 926.874 for Russell, 2,718.308 for Euro Stoxx, 75% of initial levels
|
| Pricing date: | May 11
|
| Settlement date: | May 14
|
| Agent: | Barclays
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 1%
|
| Cusip: | 06743N686
|
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