Published on 3/27/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3 million trigger jump autocallables linked to three indexes
By Sarah Lizee
Olympia, Wash., March 27 – Barclays Bank plc priced $3 million of 0% trigger jump securities with autocallable feature due March 23, 2022 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Sept. 18, the notes will be automatically called at par of $10 plus a premium of 13% per year if each index closes at or above its initial level on any quarterly determination date other than the final determination date.
If the notes are not called and each index finishes at or above its trigger value, 60% of its initial level, the payout at maturity will be par plus 26%. Otherwise, investors will lose 1% for each 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
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| Issue: | Trigger jump securities with autocallable feature
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| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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| Amount: | $3 million
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| Maturity: | March 23, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If notes are not called and each index finishes at or above trigger value, par plus 26%; otherwise, 1% loss for each 1% that least-performing index declines from initial level
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| Call: | Beginning Sept. 18, notes will be automatically called at par plus premium of 13% per year if each index closes at or above initial level on any quarterly determination date other than final determination date
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| Initial levels: | 991.160 for Russell, 2,398.10 for S&P, 2,385.82 for Stoxx
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| Trigger values: | 594.696 for Russell, 1,438.86 for S&P, 1,431.492 for Stoxx, 60% of initial index levels
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 06747G588
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