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Barclays to sell two-year review notes linked to S&P 500 via JPMorgan
New York, Sept. 2 – Barclays Bank plc plans to price 0% review notes due Sept. 7, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 10.35% if the index closes above its initial level on any semi-annual review date. The semi-annual reviews begin on Sept. 16, 2016.
Barclays will also call the notes at par plus the annualized call premium if the final value, calculated as the average of its level on Aug. 28, 2017, Aug. 29, 2017, Aug. 30, 2017, Aug. 31, 2017 and Sept. 1, 2017, is higher than the initial value.
Investors will receive par at maturity if the notes are not called and the index finishes at or above the barrier level of 90% of the initial value.
If the notes are not called and the index ends below the barrier level then investors will be fully exposed to any losses in the index.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.
The notes will price on Sept. 4 and settle on Sept. 10.
The Cusip number is 06741UH72.
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