Published on 3/31/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.5 million phoenix autocallable notes linked to Euro Stoxx, Russell
By Toni Weeks
San Luis Obispo, Calif., March 31 – Barclays Bank plc priced $8.5 million of phoenix autocallable notes due March 31, 2025 linked to the worst performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.2% if each index closes at or above its coupon barrier 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 quarterly observation date other than the final valuation date.
If the notes are not called and each index finishes at or above its 60% barrier level, the payout at maturity will be par.
Otherwise, investors will be exposed to the decline of the worst-performing index.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc.
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $8.5 million
|
| Maturity: | March 31, 2025
|
| Coupon: | 8.2% annualized for each quarter that each index closes at or above coupon barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of worst-performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly observation date other than final date
|
| Initial levels: | 3,684.04 for Euro Stoxx, 1,233.86 for Russell
|
| Coupon barriers: | 2,763.03 for Euro Stoxx, 925.4 for Russell, 75% of initial levels
|
| Barrier levels: | 2,210.42 for Euro Stoxx, 740.32 for Russell, 60% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriter: | Barclays
|
| Fees: | 3.1%
|
| Cusip: | 06741UTH7
|
© 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.
