By William Gullotti
Buffalo, N.Y., July 25 – Barclays Bank plc priced $1 million of autocallable notes due July 23, 2026 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 9.5% annualized call premium if the index closes at or above its initial level on any annual valuation date except maturity, at which point the call level will step down to 90% of initial level.
If the notes are not called at maturity and the index finishes at or above its 70% barrier, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1 million
|
| Maturity: | July 23, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if the notes are not called and the index finishes at or above barrier level; otherwise, 1% loss per 1% decline of the index from initial level
|
| Call: | Automatically at par plus a 9.5% annualized call premium if the index closes at or above initial level on any annual valuation date except maturity, at which point call level will step down to 90% of initial level
|
| Initial level: | 4,565.72
|
| Final call level: | 4,109.15; 90% of initial level
|
| Barrier level: | 3,196.0; 70% of initial level
|
| Pricing date: | July 19
|
| Settlement date: | July 24
|
| Agent: | Barclays
|
| Fees: | 0.75%
|
| Cusip: | 06745MT81
|
|
|
|
|
© 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.
