By Susanna Moon
Chicago, June 12 – Barclays Bank plc priced $1.1 million of phoenix autocallable notes due June 8, 2021 linked to the least performing of the Euro Stoxx Banks index and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 8.05% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that period.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date.
The payout at maturity will be par unless either underlying asset finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worse performing index or fund.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying assets: | Euro Stoxx Banks index and Financial Select Sector SPDR
|
Amount: | $1.1 million
|
Maturity: | June 8, 2021
|
Coupon: | 8.05% annualized, payable semiannually if each asset closes at or above 60% coupon barrier on observation date for that period
|
Price: | Par
|
Payout at maturity: | Par unless either asset finishes below 60% trigger, in which case 1% loss per 1% decline of worse performing index or fund
|
Call: | At par plus contingent coupon if each asset closes at or above initial level on any call valuation date other than final date beginning on second date
|
Initial levels: | 113.43 for Stoxx Banks and $27.48 for fund
|
Barrier levels: | 68.06 for Stoxx Banks and $16.49 for fund, 60% of initial levels
|
Pricing date: | June 1
|
Settlement date: | June 8
|
Agent: | Barclays
|
Fees: | 1%
|
Cusip: | 06746XED1
|
|
|
© 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.