Published on 10/23/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.46 million 10.1% contingent income autocallables tied to indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 23 – Barclays Bank plc priced $2.46 million of contingent income autocallable securities due April 23, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx Banks 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 10.1% 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 60% 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 Euro Stoxx Banks
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| Amount: | $2,459,000
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| Maturity: | April 23, 2020
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| Coupon: | 10.1% per year, payable quarterly if each index closes at or above 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: | 1,502.044 for Russell, 2,562.10 for S&P and 133.89 for Stoxx Banks
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| Coupon barriers: | 1,201.635 for Russell, 2,049.680 for S&P and 107.112 for Stoxx Banks; 80% of initial levels
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| Downside thresholds: | 901.226 for Russell, 1,537.260 for S&P and 80.334 for Stoxx Banks; 60% of initial levels
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| Pricing date: | Oct. 19
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| Settlement date: | Oct. 24
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 06744CF89
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