Published on 4/30/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays plans $440,000 annual autocallables on Nikkei, Euro Stoxx 50
By Susanna Moon
Chicago, April 30 – Barclays Bank plc priced $440,000 of 0% annual autocallable notes due May 2, 2018 linked to the worse performing of the Nikkei Stock Average index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at an annualized call premium of 11.74% if each index closes at or above the call level on any of three annual call dates.
The call level will be equal to the initial level for the first call date, 95% of the initial level for the second call date and 90% of the initial level for the final call date.
If the notes are not called, the payout at maturity will be par unless either index finishes below its 75% trigger level, in which case investors will be exposed to any losses of the worse performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Annual autocallable notes
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| Underlying indexes: | Euro Stoxx 50 index and Nikkei Stock Average index
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| Amount: | $440,000
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| Maturity: | May 2, 2018
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| Coupon: | 0%
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| Price: | Par
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| Call: | Par plus call premium of 12.6% if each index closes at or above call level on any annual call date
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| Payout at maturity: | Par unless either index falls below trigger level, in which case full exposure to any losses of worst performing index
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| Initial levels: | 3,771.45 for Euro Stoxx, 19,983.32 for Nikkei
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| Barrier levels: | 2,828.59 for Euro Stoxx, 14,987.49 for Nikkei; 75% of initial price
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| Call levels: | 100% of initial level for first call date, 95% of initial level for second call date and 90% of initial level for final call date
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agent: | Barclays
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| Fees: | 2.25%
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| Cusip: | 06741UTY0
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