Published on 12/4/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million trigger phoenix autocallables on indexes
New York, Dec. 4 – Barclays Bank plc priced $2 million of trigger phoenix callable optimization securities due Dec. 9, 2025 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 11% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
The notes will be callable at par on any quarterly observation date.
If the notes are not called and each index finishes at or above its 60% trigger level, the payout at maturity will be par plus the final contingent coupon, if any. Otherwise, investors will be exposed to the decline of the least performing index.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger phoenix callable optimization securities
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| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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| Amount: | $2 million
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| Maturity: | Dec. 9, 2025
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| Coupon: | 11% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon, if any, if each index finishes at or above trigger level; otherwise, full exposure to decline of least performing index
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| Call option: | At par on any quarterly observation date
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| Initial index levels: | 3,468.66 for Stoxx, 1,191.686 for Russell, 2,079.51 for S&P 500
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| Coupon barrier levels: | 2,071.20 for Stoxx, 715.012 for Russell, 1,247.71 for S&P 500; 60% of initial levels
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| Trigger levels: | 2,071.20 for Stoxx, 715.012 for Russell, 1,247.71 for S&P 500; 60% of initial levels
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| Pricing date: | Dec. 2
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| Settlement date: | Dec. 9
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| Agents: | Barclays and UBS Financial Services Inc.
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| Fees: | 0.75%
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| Cusip: | 06743T618
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