Published on 6/2/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.26 million annual autocallable notes linked to Vanguard FTSE EM
By Toni Weeks
San Luis Obispo, Calif., June 2 – Barclays Bank plc priced $1,255,000 of 0% annual autocallable notes due June 1, 2018 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call return of 10% if the fund's shares close at or above the initial share price on any of three annual call dates.
The payout at maturity will be par if the fund's final share price is at least 80% of the initial share price. Otherwise, investors will be exposed to the decline from the initial share price to the final share price.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Annual autocallable notes
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Underlying fund: | Vanguard FTSE Emerging Markets ETF
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Amount: | $1,255,000
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Maturity: | June 1, 2018
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Coupon: | 0%
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Price: | Par
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Call: | Par plus call premium of 10% per year if fund's shares close at or above initial share price on any of three annual call dates; first call date is June 6, 2016
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Payout at maturity: | Par if final share price is at least 80% of initial price; otherwise, full exposure to losses from initial price
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Initial price: | $42.34
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Barrier level: | $33.87, 80% of initial price
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Pricing date: | May 29
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Settlement date: | June 3
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Agent: | Barclays
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Fees: | 2.25%
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Cusip: | 06741UXH2
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