Published on 2/23/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.32 million annual autocallables on S&P, Euro Stoxx
By Devika Patel
Knoxville, Tenn., Feb. 23 – Barclays Bank plc priced $1.32 million of 0% annual autocallable notes due Feb. 24, 2020 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 12.5% per year if each index closes at or above its initial level on any of four annual call valuation dates.
If the notes are not called and the final level of the lesser-performing index is greater than or equal to its barrier level, 70% of its initial level, the payout at maturity will be par plus 10%. Otherwise, investors will be fully exposed to the decline of the lesser-performing index from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Annual autocallable notes
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Underlying indexes: | S&P 500 and Euro Stoxx 50
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Amount: | $1,318,000
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Maturity: | Feb. 24, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of lesser-performing index is greater than or equal to barrier level, par plus 10%; otherwise, full exposure to decline of lesser-performing index from initial level
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Call: | Automatically at par plus 12.5% per year if each index closes at or above its initial level on Feb. 21, 2017, Feb. 20, 2018, Feb. 19, 2019 or Feb. 19, 2020
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Initial index levels: | 2,871.05 for Euro Stoxx 50 and 1,917.78 for S&P 500
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Barrier levels: | 2,009.74 for Euro Stoxx 50 and 1,342.45 for S&P 500; 70% of initial levels
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Pricing date: | Feb. 19
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Settlement date: | Feb. 26
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Agent: | Barclays
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Fees: | 2.15%
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Cusip: | 06741U4M3
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