By Devika Patel
Knoxville, Tenn., Dec. 30 – Barclays Bank plc priced $2 million of phoenix autocallable notes due Dec. 31, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Every six months, the notes will pay a contingent coupon at the rate of 6.25% per year if the index closes at or above its barrier level, 85% of its initial level, on the observation date for that semiannual period. Otherwise, no coupon will be paid for that period.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any semiannual observation date other than the final one.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon, if any, unless the index finishes below its barrier level of 85%, in which case investors will lose 1% for every 1% that the index finishes below its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | Russell 2000
|
| Amount: | $2 million
|
| Maturity: | Dec. 31, 2020
|
| Coupon: | Every six months, notes pay contingent coupon at rate of 6.25% per year if index closes at or above barrier level on observation date for that semiannual period; otherwise, no coupon paid that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent coupon, if any, if index finishes above barrier level, otherwise, 1% loss for every 1% that index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any semiannual observation date other than final one
|
| Initial index level: | 1,148.21
|
| Barrier level: | 975.98; 85% of initial level
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 31
|
| Agent: | Barclays
|
| Fees: | None
|
| Cusip: | 06741U2B9
|
© 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.
