New Issue: Barclays prices $125,000 of phoenix autocallables tied to Russell, S&P

By Devika Patel

Knoxville, Tenn., Sept. 30 – Barclays Bank plc priced $125,000 of phoenix autocallable notes due Sept. 29, 2017 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 7% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter. Otherwise, no coupon will be paid 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 the second or third quarterly observation dates.

If the notes are not called, the payout at maturity will be par plus the final contingent coupon, if any, unless either index finishes below its initial level and either index closes below its barrier level of 70% during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying indexes:	Russell 2000 and S&P 500
Amount:	$125,000
Maturity:	Sept. 29, 2017
Coupon:	Each quarter, notes pay contingent coupon at rate of 7% per year if each index closes at or above barrier level on observation date for that quarter; otherwise, no coupon paid that quarter
Price:	Par
Payout at maturity:	Par plus final contingent coupon, if any, unless either index finishes below its initial level and either index closes below its barrier level during the life of the notes, in which case 1% loss for every 1% that lesser-performing index finishes below initial level
Call:	Automatically at par plus contingent coupon if each index closes at or above initial level on the second or third quarterly observation dates
Initial index levels:	1,246.38 for Russell 2000 and 2,159.93 for S&P 500
Coupon barrier/barrier levels:	872.47 for Russell 2000 and 1,511.95 for S&P 500; 70% of initial levels
Pricing date:	Sept. 27
Settlement date:	Sept. 30
Agent:	Barclays
Fees:	0.25%
Cusip:	06741VB27

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