New Issue: Barclays sells $1.43 million phoenix autocalls tied to index, ETF

By Wendy Van Sickle

Columbus, Ohio, April 23 – Barclays Bank plc priced $1.43 million of phoenix autocallable notes due April 22, 2022 linked to the least performing of the MSCI EAFE index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each asset closes at or above its 75% coupon barrier on the observation date.

The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly call observation date after one year.

The payout at maturity will be par unless either asset falls by more than 25%, in which case investors will lose 1% for each 1% loss.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying assets:	MSCI EAFE index and iShares MSCI Emerging Markets ETF
Amount:	$1,425,000
Maturity:	April 22, 2022
Coupon:	8.5% annualized, payable quarterly if each asset closes at or above 75% coupon barrier on observation date
Price:	Par
Payout at maturity:	Par unless any asset falls by more than 25%, in which case 1% loss for each 1% loss of the worst performing asset
Call:	At par plus contingent coupon if each asset closes at or above initial level on any quarterly call observation date after one year
Initial levels:	$44.56 for ETF and 1,920.41 for index
Coupon barriers:	$33.42 for ETF and 1,440.31 for index; 75% of initial levels
Pricing date:	April 18
Settlement date:	April 26
Agent:	Barclays
Fees:	2.4%
Cusip:	06747MPD2

© 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.