New Issue: Barclays prices $9.12 million market-linked step-up autocallables on Russell 2000

By Marisa Wong

Morgantown, W.Va., Sept. 29 – Barclays Bank plc priced $9.12 million of 0% autocallable market-linked step-up notes due Sept. 28, 2018 tied to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus a call premium of 12.52% per year if the index closes at or above the initial level on Oct. 7, 2016 or Sept. 22, 2017.

If the index finishes above the step-up level – 125% of the initial value – the payout at maturity will be par plus the index return.

If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 25%.

Otherwise, investors will be fully exposed to any losses.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Autocallable market-linked step-up notes
Underlying index:	Russell 2000
Amount:	$9,119,740
Maturity:	Sept. 28, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes above the step-up level, par plus the index return; if the index gains by up to the step-up level, par plus the step-up payment of 25%; otherwise, investors will be fully exposed to any losses
Call:	At par plus a call premium of 12.52% per year if the index closes at or above the initial level on Oct. 7, 2016 or Sept. 22, 2017
Initial level:	1,137.536
Step-up level:	1,421.920, 125% of initial level
Pricing date:	Sept. 24
Settlement date:	Oct. 1
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	06743Q671

© 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.