Published on 4/6/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.25 million phoenix autocallables tied to Euro Stoxx
By Devika Patel
Knoxville, Tenn., April 6 – Barclays Bank plc priced $1.25 million of phoenix autocallable notes due April 7, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Every quarter, the notes will pay a contingent coupon at the rate of 12% per year if the index closes at or above its barrier level, 80% of its initial level, on the observation date for that quarterly period. Otherwise, no coupon will be paid for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly observation date other than the final one, beginning in October 2016.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon, if any, unless the index finishes below its barrier level of 75% of the initial level, in which case investors will lose 1% for every 1% that the index finishes below its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying index: | Euro Stoxx 50
|
Amount: | $1.25 million
|
Maturity: | April 7, 2021
|
Coupon: | Every quarter, notes pay contingent coupon at rate of 12% per year if index closes at or above barrier level on observation date for that quarterly period; otherwise, no coupon paid that quarter
|
Price: | Par
|
Payout at maturity: | Par plus final contingent coupon, if any, if index finishes above barrier level, otherwise, 1% loss for every 1% that index finishes below initial level
|
Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any semiannual observation date other than final one after October 2016
|
Initial index level: | 2,962.28
|
Coupon barrier level: | 2,369.82; 80% of initial level
|
Barrier level: | 2,221.71; 75% of initial level
|
Pricing date: | April 4
|
Settlement date: | April 7
|
Agent: | Barclays
|
Fees: | None
|
Cusip: | 06741U6V1
|
© 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.