Published on 3/28/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.5 million autocallable contingent payment notes on three indexes
By Marisa Wong
Madison, Wis., March 28 - Barclays Bank plc priced $1.5 million of autocallable contingent payment notes due March 28, 2024 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly payment of 2.1125% if each index closes at or above its initial level on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent payment if each index closes at or above its initial level on any valuation date beginning with the valuation date in March 2017.
If the notes are not called, the payout at maturity will be par unless any index finishes below its barrier level, 50% of the initial level, in which case investors will be fully exposed to losses of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent payment notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $1.5 million
|
| Maturity: | March 28, 2024
|
| Coupon: | 2.1125%, payable quarterly if each index closes at or above its initial level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index falls below barrier level, in which case full exposure to losses of worst performing index
|
| Call: | Par plus contingent payment if each index closes at or above its initial level on any valuation date beginning with valuation date in March 2017
|
| Initial index levels: | 1,852.56 for S&P, 1,155.49 for Russell and 3,130.17 for Euro Stoxx
|
| Barrier levels: | 926.28 for S&P, 577.75 for Russell and 1,565.09 for Euro Stoxx; 50% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agent: | Barclays
|
| Fees: | 4%
|
| Cusip: | 06741UAY0
|
© 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.
