By Marisa Wong
Morgantown, W.Va., Oct. 5 – Barclays Bank plc priced $47.73 million of 0% autocallable market-linked step-up notes due Sept. 27, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium if the index closes at or above its initial level on either call observation date. The two call observation dates will occur 13 months and two years after the pricing date. The call premium is 8.5% for the first date and 17% for the second date.
If the index finishes above the step-up level, 125% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 25%.
Otherwise, investors will be exposed to any losses.
BofA Merrill Lynch is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $47,733,690
|
| Maturity: | Sept. 27, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus a call premium if the index closes at or above its initial level on Oct. 20, 2017 or Sept. 21, 2018; call premium is 8.5% for first date and 17% for second date
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if index finishes at or below the step-up level but at or above the initial level, par plus 25%; exposure to any losses
|
| Initial level: | 2,151.13
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| Step-up level: | 2,688.91, 125% of initial level
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 6
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06745B342
|
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