By Angela McDaniels
Tacoma, Wash., Dec. 12 – Barclays Bank plc priced $33.06 million of 0% autocallable market-linked step-up notes due Dec. 20, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus a call premium of 8.9% per year if the index closes at or above the initial index level on either annual call observation date.
If the notes are not called and the final index level is greater than the step-up value, 121% of the initial index level, the payout at maturity will be par plus the index return.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 21%.
If the final index level is less than the initial level, investors will have one-to-one exposure to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $33,058,410
|
| Maturity: | Dec. 20, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 21%; if final index level is less than initial level, exposure to decline
|
| Call: | At par plus 8.9% per year if index closes at or above initial index level on Dec. 15, 2017 or Dec. 14, 2018
|
| Initial index level: | 2,246.19
|
| Step-up value: | 2,717.89, 121% of initial level
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 16
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06745R586
|
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