By Wendy Van Sickle
Columbus, Ohio, May 13 – Barclays Bank plc priced $12.5 million of 0% step down trigger autocallable notes due May 13, 2021 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.
The notes will be automatically called at par of $10 plus 8.7% per year if each index closes at or above its initial level on any semiannual observation date prior to the final one when the call threshold will be the 70% downside threshold.
If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold, 70% of its initial level, and investors will be exposed to the decline of the lesser-performing index from its initial level.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
Issuer: | Barclays Bank plc
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Issue: | Step down trigger autocallable notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $12.5 million
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Maturity: | May 13, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Full exposure to decline of lesser-performing index from initial level
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Call: | At par plus 8.7% per year if each index closes at or above its initial level on any semiannual observation date, other than the final one when the call threshold will be 70% of the initial levels
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Initial index levels: | 1,574.975 for Russell 2000 and 2,879.42 for S&P 500
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Downside thresholds: | 1,102.483 for Russell 2000 and 2,015.59 for S&P 500; 70% of initial levels
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Pricing date: | May 9
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Settlement date: | May 14
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Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
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Fees: | 1%
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Cusip: | 06747B787
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