New Issue: Barclays prices $6.06 million phoenix autocallables on Russell 2000

By Wendy Van Sickle

Columbus, Ohio, Feb. 23 – Barclays Bank plc priced $6.06 million of phoenix autocallable notes due Feb. 22, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if the index closes at or above its 80% coupon barrier on the observation date 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 observation date beginning with the fourth observation date.

The payout at maturity will be par unless the index finishes below its 79.5% barrier level, in which case investors will be fully exposed to any losses.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying index:	Russell 2000
Amount:	$6,055,000
Maturity:	Feb. 22, 2023
Coupon:	8.5% annualized, payable quarterly if index closes at or above 80% coupon barrier on observation date for that period
Price:	Par
Payout at maturity:	Par plus contingent coupon unless index finishes below 79.5% barrier, in which case full exposure to losses
Call:	At par plus contingent coupon if index closes at or above initial price on any observation date beginning with the fourth observation date
Initial level:	1,543.55
Coupon barrier:	1,234.84, 80% of initial level
Barrier:	1,227.12, 79.5% of initial level
Pricing date:	Feb. 16
Settlement date:	Feb. 22
Agent:	Barclays
Fees:	0%
Cusip:	06744CWG2

© 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.