Published on 1/11/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $611,000 autocallable notes tied to Russell, two ETFs
By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – Barclays Bank plc priced $611,000 of 0% autocallable notes due Oct. 13, 2021 linked to the lesser performing index of the Russell 2000 index, the Financial Select Sector SPDR Fund and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
After six months, the notes will be automatically called at par plus an annualized call premium of 10.8% if each underlying closes at or above its initial level on any quarterly call valuation date.
If the notes are not called and the final level of the least-performing underlying is at least 70% of its initial level, the payout at maturity will be par plus the digital percentage of 10%. Otherwise, investors will lose 1% for each 1% decline of the least-performing underlying from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying assets: | Russell 2000 index, Financial Select Sector SPDR Fund and Technology Select Sector SPDR Fund
|
| Amount: | $611,000
|
| Maturity: | Oct. 13, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final level of the least-performing underlying is at least 70% of its initial level, par plus 10%; otherwise, 1% loss for each 1% decline of the least-performing underlying from its initial level
|
| Call: | After six months, at par plus an annualized call premium of 10.8% if each underlying closes at or above its initial level on any quarterly call valuation date
|
| Initial levels: | 1,560.10 for index and $28.59 for Financial fund, $66.38 for Technology fund
|
| Barrier levels: | 1,092.07 for index and $20.01 for Financial fund, $46.47 for Technology fund, 70% of initial levels
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 12
|
| Agent: | Barclays
|
| Fees: | 2.95%
|
| Cusip: | 06744CRR4
|
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