By Susanna Moon
Chicago, Dec. 31 – Barclays Bank plc priced $2 million of 3% digital notes due July 1, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
If the index return is equal to or greater than 13.5%, the payout at maturity will be par plus the digital percentage of 20%.
If the index return is less than 13.5% but equal to or greater than 15%, the payout will be par.
Otherwise, investors will lose 1.17647% for each 1% decline beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Digital notes
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| Underlying index: | S&P 500
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| Amount: | $2 million
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| Maturity: | July 1, 2019
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| Coupon: | 3%, payable semiannually
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| Price: | Par
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| Payout at maturity: | If return is equal to or greater than 13.5%, par plus 20%; if return is less than 13.5% but equal to or greater than 15%, par; 1.17647% loss per 1% drop beyond 15%
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| Initial level: | 2,088.77
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| Barrier level: | 85% of initial level
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| Pricing date: | Dec. 26
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| Settlement date: | Dec. 31
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| Agent: | Barclays
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| Fees: | 0%
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| Cusip: | 06741UNQ3
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