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Barclays plans three-year market-tied step-up autocallables on Stoxx
By Susanna Moon
Chicago, Aug. 25 – Barclays Bank plc plans to price autocallable market-linked step-up notes due August 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 an annual call premium of 11.5% to 12.5% if the index closes at or above its initial level on any annual review date.
If the index finishes above its step-up level, 130% of the initial level, the payout at maturity will be par plus the gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up return of 30%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price and settle in August.
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