Published on 12/14/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $626,000 of digital autocallables tied to indexes, fund
By Susanna Moon
Chicago, Dec. 14 – Barclays Bank plc priced $626,000 of 0% autocallable notes due Sept. 7, 2021 linked to the least performing of the Financial Select Sector SPDR fund, the Russell 2000 index and the S&P 500 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 7.75% if each underlying component closes at or above its initial level on any quarterly valuation date.
If each index finishes at or above its barrier level, the payout at maturity will be par the digital return of 10%.
Otherwise, investors will be fully exposed to any losses of the worst performing component.
Barclays is the agent.
626,000
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 S&P 500 index
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Amount: | $626,000
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Maturity: | Sept. 7, 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 70% barrier, in which case investors will lose 1% for each 1% decline of worst performing index or fund
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Call: | At par plus 7.75% annualized if each index closes at or above its initial level on any quarterly valuation date
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Initial levels: | $27.58 for fund, 1,537.02 for Russell and 2,642.22 for S&P 500
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Barrier levels: | $19.31 for fund, 1,075.91 for Russell and 1,849.55 for S&P 500; 70% of initial levels
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Pricing date: | Dec. 1
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Settlement date: | Dec. 6
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Agent: | Barclays
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Fees: | 2.95%
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Cusip: | 06744CLU3
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