Published on 9/22/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.93 million two-year annual autocallables tied to S&P
By Susanna Moon
Chicago, Sept. 22 – Barclays Bank plc priced $3.93 million of 0% annual autocallable notes due Sept. 25, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at an annual call premium of 8% if the index closes at or above its initial level on either annual call date.
The payout at maturity will be par unless the index finishes below its 75% barrier level, in which case investors will be exposed to any losses.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Annual autocallable notes
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Underlying index: | S&P 500
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Amount: | $3.93 million
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Maturity: | Sept. 25, 2018
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Coupon: | 0%
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Price: | Par
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Call: | Par plus call premium of 8% per year if index finishes at or above initial level on Sept. 27, 2017 or the final valuation date
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Payout at maturity: | Par unless index falls below barrier level, in which case full exposure to any losses
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Initial level: | 2,139.76
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Barrier level: | 1,604.82, 75% of initial price
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Pricing date: | Sept. 20
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Settlement date: | Sept. 23
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Agent: | Barclays
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Fees: | 1.5%
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Cusip: | 06741VBB7
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