Barclays plans to price annual autocallables linked to S&P, Russell

By Angela McDaniels

Tacoma, Wash., April 25 – Barclays Bank plc plans to price 0% annual autocallable notes due May 7, 2024 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium of 9.2% per year if each index closes at or above its initial level on any annual call valuation date.

If the final level of the lesser-performing index is greater than or equal to its initial level, the notes will be subject to an automatic call and the payout will be the applicable redemption price.

If the final level of the lesser-performing index is less than its initial level but greater than or equal to its barrier value, 50% of its initial level, the payout will be par.

If the final level of the lesser-performing index is less than its barrier value, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.

Barclays is the agent.

The notes will price May 2.

The Cusip number is 06747MQ25.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.