By Toni Weeks
San Luis Obispo, Calif., June 2 – Barclays Bank plc priced $17.24 million of 0% discretionary callable trigger securities due June 2, 2017 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are redeemable on June 13, 2016 at an early redemption price of $11.60 per $10.00 principal amount of notes.
If the notes are not called and the final share price is greater than the initial share price, the payout at maturity will be par plus 112% of the increase. Investors will receive par if the fund declines by 10% or less and will be fully exposed to the decline if the fund falls by more than 10%.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Discretionary callable trigger securities
|
| Underlying fund: | Financial Select Sector SPDR fund
|
| Amount: | $17,235,000
|
| Maturity: | June 2, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If fund return is positive, par plus 112% of gain; par if fund falls by up to 10%; full exposure to fund’s decline if fund falls by more than 10%
|
| Call option: | At $11.60 per $10.00 note at issuer’s option on June 13, 2016
|
| Initial price: | $24.60
|
| Trigger price: | $22.14, 90% of initial level
|
| Pricing date: | May 29
|
| Settlement date: | June 3
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.3%
|
| Cusip: | 06743P285
|
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