Published on 8/8/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.97 million annual autocallables on MSCI indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – Barclays Bank plc priced $2.97 million of 0% annual autocallable notes due Aug. 9, 2022 linked to the lesser performing of the MSCI EAFE index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 12.55% per year if each index closes at or above its initial level on one of three annual call observation dates; the call level is 100% of initial level on the first date and steps down by 5% each year.
If the notes are not called and the final level of the lesser-performing index is greater than or equal to its initial level, the notes will be subject to the automatic call. If the lesser-performing index falls but finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Annual autocallable notes
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| Underlying indexes: | MSCI EAFE and MSCI Emerging Markets
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| Amount: | $2.97 million
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| Maturity: | Aug. 9, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of lesser-performing index is greater than or equal to barrier level, par; otherwise, full exposure to decline of lesser-performing index from initial level
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| Call: | Automatically at par plus 12.55% per year if each index closes at or above its call level on one of three annual call dates; call level is 100% of initial level on first date and steps down by 5% each year
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| Initial index levels: | 1,863.85 for MSCI EAFE, 1,003.7 for MSCI Emerging Markets
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| Barrier levels: | 1,304.7 for MSCI EAFE, 702.63 for MSCI Emerging Markets; 70% of initial levels
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| Pricing date: | Aug. 2
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| Settlement date: | Aug. 7
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| Agent: | Barclays
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| Fees: | 2.25%
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| Cusip: | 06747NBU7
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