By Marisa Wong
Madison, Wis., July 8 – Barclays Bank plc priced $6.69 million of trigger phoenix callable optimization securities due July 15, 2019 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its barrier level, 60% of its initial level, on an observation date for that quarter.
The notes are callable at par on any quarterly observation date.
If each index finishes at or above its 60% trigger level, the payout at maturity will be par.
Otherwise, investors will be exposed to any losses of the worst performing index.
UBS Financial Services Inc. and Barclays are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix callable optimization securities
|
| Underlying indexes: | S&P 500, Russell 2000 and MSCI EAFE
|
| Amount: | $6,689,000
|
| Maturity: | July 15, 2019
|
| Coupon: | 8% annualized for each quarter that each index closes at or above coupon barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, full exposure to losses of worst performing index
|
| Call option: | At par on any quarterly observation date
|
| Initial levels: | 2,068.76 for S&P, 1,246.959 for Russell and 1,819.88 for MSCI EAFE
|
| Barrier/trigger levels: | 60% of initial levels
|
| Pricing date: | July 6
|
| Settlement date: | July 9
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06743Q705
|
|
|
© 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.
