Published on 8/1/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.68 million phoenix autocallables on Russell, S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 1 – Barclays Bank plc priced $1.68 million of phoenix autocallable notes due Aug. 1, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.05% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 60% barrier level, in which case investors will fully exposed to any losses of the worse performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlyings: | Russell 2000 index and S&P 500 index
|
| Amount: | $1,681,000
|
| Maturity: | Aug. 1, 2023
|
| Coupon: | 7.05%, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date other than final date
|
| Payout at maturity: | Par plus final contingent coupon unless either index finishes below barrier level, in which case full exposure to any losses of worse performing index
|
| Initial levels: | 1,216.86 for Russell and 2,169.18 for S&P
|
| Barrier levels: | 730.12 for Russell and 1,301.51 for S&P; 60% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 29
|
| Agent: | Barclays
|
| Fees: | 3.15%
|
| Cusip: | 06741V5Y4
|
|
|
© 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.
