Published on 5/14/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.1 million review notes linked to three indexes
By Sarah Lizee
Olympia, Wash., May 14 – Barclays Bank plc priced $4.1 million of 0% review notes due May 13, 2022 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 9.35% per year if each underlying asset closes at or above its call level on any annual review date. The call level will be equal to the initial level for the first two annual review dates and 70% of the initial level for the final date.
If the notes are not called, the payout at maturity will be par plus the return of the worst performing asset with full exposure to any losses.
Barclays is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
Issuer: | Barclays Bank plc
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Issue: | Review notes
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Underlying assets: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $4.1 million
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Maturity: | May 13, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus the return of the worst performing asset with full exposure to any losses
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Call: | At par plus 9.35% per year if each underlying closes at or above call level on any annual review date; call level is initial level for first two annual review dates and equal to barrier level on final date
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Initial level: | 7,586.531 for Nasdaq, 1,572.993 for Russell, 2,881.40 for S&P
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Barrier level: | 5,310.572 for Nasdaq, 1,101.095 for Russell, 2,016.98 for S&P; 70% of initial level
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Pricing date: | May 10
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Settlement date: | May 15
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Underwriter: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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Fees: | 2%
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Cusip: | 06747MUH7
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