Published on 7/24/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.77 million buffered autocallables linked to Russell, S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, July 24 – Barclays Bank plc priced $2.77 million of 0% buffered autocallable notes due July 11, 2024 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus an annualized premium of 8.2% if each index closes at or above its initial level on any annual call valuation date.
If the return of the least-performing index is at least negative 30%, the payout at maturity will be par. Otherwise, investors will lose 1.4286% for every 1% decline of the least-performing index beyond 30%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 and S&P 500
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Amount: | $2.77 million
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Maturity: | July 11, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless any index falls by more than 30%, in which case 1.4286% loss per 1% decline of least-performing index beyond 30%
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Call: | Automatically at par plus a premium of 8.2% a year if each index closes at or above initial level on an annual call valuation date
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Initial index levels: | 1,694.05 for Russell 2000 and 2,759.82 for S&P 500, 24,456.48 for Dow
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Barrier levels: | 1,185.84 for Russell 2000 and 1,931.87 for S&P 500, 17,119.54 for Dow; 70% of initial levels
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Pricing date: | July 6
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Settlement date: | July 11
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06746XG49
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