Published on 2/10/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3 million contingent income autocallables linked to indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 10 – Barclays Bank plc priced $3 million of contingent income autocallable securities due Feb. 3, 2022 linked to the least performing of the Topix index, the Euro Stoxx 50 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% per year if each index closes at or above its downside threshold level, 74% 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 other than the final determination date.
The payout at maturity will be par unless any index finishes below its downside threshold 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. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Topix, Euro Stoxx 50 and S&P 500
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| Amount: | $3 million
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| Maturity: | Feb. 3, 2022
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| Coupon: | 8% per year, payable quarterly if each index closes at or above downside threshold on determination date 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 exposure to decline of least-performing index
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| Call: | Automatically at par if each index closes at or above initial level on any determination date other than final determination date
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| Initial levels: | 1,684.44 for Topix, 3,640.91 for Stoxx, 3,225.52 for S&P
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| Downside thresholds: | 1,246.485 for Topix, 2,694.273 for Stoxx and 2,386.885 for S&P, or 74% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 5
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| Agent: | Barclays
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 06747P5K1
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