Published on 6/21/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $9.96 million contingent income autocallables on S&P, Russell, Nasdaq
By Sarah Lizee
Olympia, Wash., June 21 – Barclays Bank plc priced $9.96 million of contingent income autocallable securities due June 5, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.6% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any index finishes below its downside threshold level, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
Issuer: | Barclays Bank plc
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Issue: | Contingent income autocallable securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 and S&P 500
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Amount: | $9,962,000
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Maturity: | June 5, 2024
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Coupon: | 8.6% per year, payable quarterly if each index closes at or above coupon barrier level on determination date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for every 1% that least-performing index declines from initial level
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Call: | Automatically at par if each index closes at or above initial level on any quarterly determination date
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Initial levels: | 7,127.956 for Nasdaq, 1,465.487 for Russell 2000 and 2,752.06 for S&P 500
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Coupon barriers: | 4,989.569 for Nasdaq, 1,025.841 for Russell 2000 and 1,926.442 for S&P 500, or 70% of initial levels
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Downside thresholds: | 4,276.774 for Nasdaq, 879.292 for Russell 2000 and 1,651.236 for S&P 500, or 60% of initial levels
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Pricing date: | May 31
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Settlement date: | June 5
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Agent: | Barclays
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Selected dealer: | Morgan Stanley Wealth Management
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Fees: | 2.5%
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Cusip: | 06747MV37
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