Published on 2/26/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.06 million autocallable notes tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – Barclays Bank plc priced $1.06 million of autocallable notes due Nov. 26, 2021 linked to the least performing index of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be pay a quarterly contingent coupon at an annualized rate of 7% if each index closes at or above its coupon barrier, 70% of its initial level on the observation date for that quarter.
The notes will be automatically called at par plus the coupon if each index closes above its initial level on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless any index finishes below its initial leel and any index ever closes below its 70% knock-in level any day during the life of the notes, in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
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| Underlying assets: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,061,000
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| Maturity: | Nov. 26, 2021
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| Coupon: | 7%, payable quarterly if each index closes at or above its coupon barrier on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | If notes are not called, par unless any index finishes below its initial level and any index ever closes below knock-in level during life of notes, in which case full exposure to decline of worst performing index
|
| Call: | At par plus a coupon if each index closes above on any quarterly observation date after six months
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| Initial levels: | 9,446.69 for Nasdaq, 1,678.61 for Russell, 28,992.41 for Dow
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| Coupon barrier/knock-in levels: | 6,612.68 for Nasdaq, 1,175.03 for Russell, 20,294.69 for Dow, 70% of initial levels
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 26
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| Agent: | Barclays
|
| Fees: | 2.18%
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| Cusip: | 06747PCG2
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