By Wendy Van Sickle
Columbus, Ohio, May 19 – Barclays Bank plc priced $8.6 million of 0% autocallable market-linked step-up notes due May 28, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 9.85 % a year if the index closes at or above its initial level on any annual call observation date.
If the index finishes above the step-up level, 125% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 25%.
Investors will receive par if the index falls by up to 5% and will be exposed to losses beyond 5%.
BofA Merrill Lynch is the underwriter.
Issuer: | Barclays Bank plc
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Issue: | Autocallable market-linked step-up notes
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Underlying index: | Euro Stoxx 50
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Amount: | $8.6 million
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Maturity: | May 28, 2020
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Coupon: | 0%
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Price: | Par of $10
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Call: | At par plus a 9.85% annual call premium if the index closes at or above its initial level on any annual call date
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Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if index finishes at or below the step-up level but at or above the initial level, par plus 25%; par if index falls by up to 5%; exposure to losses beyond 5%
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Initial level: | 3,584.83
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Step-up level: | 4,481.04, 125% of initial level
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Pricing date: | May 17
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Settlement date: | May 24
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06746K101
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