Barclays to price phoenix autocallables linked to ETF, indexes

By Sarah Lizee

Olympia, Wash., Feb. 7 – Barclays Bank plc plans to price phoenix autocallable notes due Nov. 18, 2022 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annualized rate of 6.5% if each underlying asset closes at or above its coupon barrier level, 75% of its initial price, on the observation date for that period.

The notes will be called at par plus any coupon due if each asset closes above its initial level on any observation date after six months other than the final one.

If each asset finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par.

Otherwise, investors will be fully exposed to the decline of the least-performing asset.

Barclays is the agent.

The notes will price on Feb. 11.

The Cusip number is 06747PBB4.

© 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.