Published on 6/14/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.59 million 8.65% contingent income autocalls on three indexes
By Susanna Moon
Chicago, June 14 – Barclays Bank plc priced $1.59 million of contingent income autocallable securities due Dec. 11, 2020 linked to the worse performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.65% if each index closes at or above its 75% coupon threshold on the determination date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any call review date other than the final date.
The payout at maturity will be par unless either index closes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income callable securities
|
| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
|
| Amount: | $1,587,000
|
| Maturity: | Dec. 11, 2020
|
| Coupon: | 8.65% annualized, payable quarterly if each index closes at or above 75% coupon barrier on each trading day for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call option: | At par on any contingent payment date other than the final date
|
| Initial levels: | 1,672.49 for Russell, 2,779.03 for S&P and 3,447.30 for Stoxx
|
| Coupon barriers: | 1,254.368 for Russell, 2,084.273 for S&P and 2,585.475 for Stoxx, 75% of initial levels
|
| Downside thresholds: | 1,170.743 for Russell, 1,945.321 for S&P and 2,413.11 for Stoxx, 70% of initial levels
|
| Pricing date: | June 8
|
| Settlement date: | June 13
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06746XF57
|
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