Published on 3/7/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.1 million autocallable notes tied to Russell, Euro Stoxx
By Wendy Van Sickle
Columbus, Ohio, March 7 – Barclays Bank plc priced $2.1 million of 9% autocallable notes due March 4, 2027 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly through March 4, 2019.
If each index closes at or above its initial level on any quarterly call valuation date beginning Feb. 28, 2019, the notes will be automatically called at par plus a call premium equal to the coupon times the number of observation dates that have occurred to and including the call date.
If the notes are not called and the final level of the lesser-performing index is at least 50% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable notes
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| Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $2.1 million
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| Maturity: | March 4, 2027
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| Coupon: | 9%, payable quarterly through March 4, 2019
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| Price: | Par
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| Payout at maturity: | If the final level of the lesser-performing index is at least 50% of its initial level, par; otherwise, 1% loss for each 1% decline of the lesser-performing index from its initial level
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| Call: | If each index closes at or above its initial level on any quarterly call valuation date beginning Feb. 28, 2019, automatically at par plus a call premium equal to the coupon times the number of observation dates that have occurred to and including the call date
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| Initial levels: | 1,386.68 for Russell, 3,319.61 for Euro Stoxx
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| Barrier levels: | 693.34 for Russell, 1,659.81 for Euro Stoxx; 50% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | Barclays
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| Fees: | 3.35%
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| Cusip: | 06741VLJ9
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