Published on 10/18/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.28 million 10% contingent income autocallables tied to indexes
By Susanna Moon
Chicago, Oct. 18 – Barclays Bank plc priced $2.28 million of contingent income autocallable securities due April 17, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 10% if each index closes at or above its 80% coupon barrier on the determination date for that quarter.
The notes will be callable at par on any quarterly determination date other than the final date.
The payout at maturity will be par plus the final coupon unless any index finishes below its 80% downside threshold, in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Russell 2000, S&P 500 and Nikkei 225
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| Amount: | $2,275,000
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| Maturity: | April 17, 2020
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| Coupon: | 10% per year, payable quarterly if each index closes at or above 80% coupon barrier on determination date that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, full exposure to decline of worst performing index
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| Call option: | At par on any interest payment date other than final date
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| Initial levels: | 1,508.005 for Russell, 2,550.64 for S&P and 20,823.51 for Nikkei
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| Downside thresholds: | 1,206.404 for Russell, 2,040.512 for S&P and 16,658.808 for Nikkei; 80% of initial levels
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| Pricing date: | Oct. 10
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| Settlement date: | Oct. 19
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 06744CC41
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