By Wendy Van Sickle
Columbus, Ohio, Dec. 27 – Barclays Bank plc priced $11.42 million of market-linked step-up notes due Dec. 20, 2019 linked to a basket of Asian indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Hang Seng China Enterprises index with an initial weight of 50% and the JPX-Nikkei index 400 with an initial weight of 33.34%.
If the basket finishes above the step-up level – 19% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 19%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Market-linked step-up notes
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| Basket components: | Hang Seng China Enterprises index (50% weight), JPX-Nikkei index 400 (50% weight)
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| Amount: | $11,421,070
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| Maturity: | Dec. 20, 2019
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If basket finishes above the step-up level, par plus the gain; if basket gains up to the step-up level, par plus 19%; exposure to any decline
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| observation date
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| Initial levels: | 11,596.94 for Hang Seng, 16,138.80 for JPX-Nikkei index 400
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| Step-up value: | 119% of initial basket level
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 29
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 2%
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| Cusip: | 06746N212
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