Published on 4/6/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.07 million contingent income autocallables linked to indexes
By Kiku Steinfeld
Chicago, April 6 – Barclays Bank plc priced $3.07 million of contingent income autocallable securities due March 17, 022 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 10% per year if each index closes at or above its downside threshold level, 70% 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 other than the final determination date.
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. The dealer is Morgan Stanley Wealth Management.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
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| Amount: | $3,074,000
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| Maturity: | March 17, 2022
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| Coupon: | 10% per year, payable quarterly if each index closes at or above downside threshold on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case exposure to decline of least-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any determination date other than final determination date
|
| Initial levels: | 7,995.263 for Nasdaq, 1,210.135 for Russell, 2,711.02 for S&P
|
| Downside thresholds: | 5,596.684 for Nasdaq, 847.095 for Russell and 1,897.714 for S&P, or 70% of initial levels
|
| Pricing date: | March 13
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| Settlement date: | March 18
|
| Agent: | Barclays
|
| Selected Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 06747PHP7
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