Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $243,000 autocallable notes tied to Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, April 8 – Barclays Bank plc priced $243,000 of autocallable notes due March 31, 2021 linked to the least performing index of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon of 12% per year if each index closes at or above its coupon barrier value, 75% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par 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 either index ever closes below its 75% barrier level on 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: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $243,000
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| Maturity: | March 31, 2021
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| Coupon: | 12% per year, payable quarterly if each index closes at or above its coupon barrier value on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If notes are not called, par unless either index ever closes below its barrier level on any day during the life of the notes, in which case investors will be fully exposed to the decline of the worst performing index
|
| Call: | Automatically at par if each index closes above its initial level on any quarterly observation date after six months
|
| Initial levels: | 1,153.1 for Russell, 7,813.5 for Nasdaq
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| Coupon barriers: | 864.83 for Russell, 5,860.13 for Nasdaq, 75% of initial levels
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| Barriers: | 864.83 for Russell, 5,860.13 for Nasdaq, 75% of initial levels
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| Pricing date: | March 30
|
| Settlement date: | April 2
|
| Agent: | Barclays
|
| Fees: | 0.85%
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| Cusip: | 06747PGS2
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