Published on 11/21/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $739,000 of 0% autocallables tied to fund, two indexes
By Susanna Moon
Chicago, Nov. 21 – Barclays Bank plc priced $739,000 of 0% autocallable notes due Aug. 18, 2021 linked to the least performing of the Financial Select Sector SPDR fund, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 10.5% if each underlying component closes at or above its initial level on any quarterly valuation date after six months.
The payout at maturity will be par plus 10% unless any component finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index or fund.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underlying assets: | Financial Select Sector SPDR fund, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $739,000
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Maturity: | Aug. 18, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 10% unless any component finishes below its barrier level, in which case investors will lose 1% for each 1% decline of worst performing component
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Call: | At par plus 10.5% annualized if each component closes at or above its initial level on any quarterly valuation date beginning in May 2018
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Initial levels: | $26.12 for Financial fund, 1,475.07 for Russell and 3,574.52 for Stoxx
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Barrier levels: | $18.28 for Financial fund, 1,032.55 for Russell and 2,502.16 for Stoxx; 60% of initial levels
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Pricing date: | Nov. 13
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Settlement date: | Nov. 16
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Agent: | Barclays
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Fees: | 2.95%
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Cusip: | 06744CLL3
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