Barclays plans phoenix autocallables linked to Russell, Euro Stoxx

By Marisa Wong

Morgantown, W.Va., Sept. 3 – Barclays Bank plc plans to price phoenix autocallable notes due Sept. 10, 2020 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index closes at or above the coupon barrier level – 85% of the initial level – on a semiannual observation date, the issuer will pay a contingent coupon for that period at the rate of 9.5% to 9.875% per year.

If each index closes at or above its initial level on any semiannual observation date other than the final date, the notes will be called at par plus the contingent coupon.

If the notes are not called and each index finishes at or above the 75% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser performing index.

Barclays is the agent.

The notes will price Sept. 4 and settle Sept. 10.

The Cusip number is 06741UH31.

© 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.