Published on 8/20/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.22 million contingent income autocallables on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Aug. 20 – Barclays Bank plc priced $3.22 million of contingent income autocallable securities due Aug. 21, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 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 8.15% per year if each index closes at or above its downside threshold, 75% 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 after six months.
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. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 and S&P 500
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| Amount: | $3,215,000
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| Maturity: | Aug. 21, 2024
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| Coupon: | 8.15% per year, payable quarterly if each index closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly determination date after six months
|
| Initial levels: | 7,604.109 for Nasdaq, 1,493.64 for Russell 2000 and 2,888.68 for S&P 500
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| Downside thresholds: | 5,703.082 for Nasdaq, 1,120.23 for Russell 2000 and 2,166.51 for S&P 500, or 75% of initial levels
|
| Pricing date: | Aug. 16
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| Settlement date: | Aug. 21
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| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 06747NCA5
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