Published on 11/3/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.01 million 9.05% contingent income autocallables tied to three indexes
By Susanna Moon
Chicago, Nov. 3 – Barclays Bank plc priced $4.01 million of contingent income autocallable securities due Oct. 30, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 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 9.05% if each index closes at or above its 75% coupon barrier on each trading day 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 contingent coupon unless any index finishes below its 70% 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 50
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| Amount: | $4,011,000
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| Maturity: | Oct. 30, 2020
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| Coupon: | 9.05% per year, payable quarterly if each index closes at or above 75% coupon barrier on each trading day for 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: | 1,508.316 for Russell, 2,581.07 for S&P and 3,652.23 for Stoxx
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| Coupon barriers: | 1,131.237 for Russell, 1,935.803 for S&P and 2,739.173 for Stoxx; 75% of initial levels
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| Downside thresholds: | 1,055.821 for Russell, 1,806.749 for S&P and 2,556.561 for Stoxx; 70% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Nov. 1
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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: | 06744CH53
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