Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
Barclays will price contingent income autocallables on three indexes
By Devika Patel
Knoxville, Tenn., Oct. 18 – Barclays Bank plc plans to price contingent income autocallable securities due April 23, 2020 linked to the worse performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent quarterly payment if each index closes at or above its coupon barrier level, 80% of its initial index level, on the determination date for that quarter. The contingent coupon rate is expected to be at least 10.1% per annum and will be set at pricing.
Beginning Jan. 19, 2018, Barclays may call the notes at par of $1,000 plus the contingent coupon on any quarterly determination date other than the final one if the closing level of each index is greater than or equal to its initial level.
If each index finishes at or above its downside threshold level, 60% of its initial index level, the payout at maturity will be par plus the final contingent coupon, if any.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Barclays is the agent and Morgan Stanley Wealth Management is a dealer.
The notes (Cusip: 06744CF89) will price on Oct. 19 and settle on Oct. 24.
© 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.