Published on 4/8/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.56 million autocallables linked to S&P GSCI Natural Gas
By Angela McDaniels
Tacoma, Wash., April 8 - Barclays Bank plc priced $8.56 million of 0% autocallable notes due Oct. 16, 2014 linked to the S&P GSCI Natural Gas Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at 104.85% of par if the index closes at or above the initial index level on any review date or if the final index level is greater than or equal to the initial index level. The review dates are each trading day from and including July 7, 2014 to but excluding Oct. 6, 2014.
If the notes are not called and the final index level is at least 85% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines from the initial level.
Barclays is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying index: | S&P GSCI Natural Gas Index Excess Return
|
| Amount: | $8,555,000
|
| Maturity: | Oc.t 16, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless final index level is less than barrier level, in which case full exposure to index's decline from initial level
|
| Call: | At 104.85% of par if index closes at or above initial index level on any trading day from and including July 7, 2014 to but excluding Oct. 6, 2014 or if final index level is greater than or equal to initial index level
|
| Initial index level: | 40.92505
|
| Final index level: | Average of index's closing levels on five trading days ending Oct. 10, 2014
|
| Barrier level: | 34.78629, 85% of initial level
|
| Pricing date: | April 4
|
| Settlement date: | April 9
|
| Agents: | Barclays Capital Inc. with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
|
| Fees: | 0.5%
|
| Cusip: | 06741UBQ6
|
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