Published on 8/2/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.33 million autocallable notes due 2021 on index, funds
By Sarah Lizee
Olympia, Wash., Aug. 2 – Barclays Bank plc priced $1.33 million of 0% autocallable notes due Nov. 15, 2021 linked to the lesser performing of the SPDR S&P Regional Banking ETF, the Invesco QQQ Trust and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized call premium of 9.5% if each underlying closes at or above its initial level on any monthly call valuation date beginning on the sixth call valuation date.
At maturity, if the final value of the least performing asset is greater than or equal to its initial value, the notes will be subject to an automatic call and investors will receive par plus the call premium. If the notes are not called and the final level of the least-performing underlying is less than its initial level but at least 70% of its initial level, the payout will be par plus 10%. Otherwise, investors will lose 1% for each 1% decline of the least-performing underlying from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying assets: | SPDR S&P Regional Banking ETF, the Invesco QQQ Trust and the Russell 2000 index
|
| Amount: | $1,332,000
|
| Maturity: | Nov. 15, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final value of the least performing asset is greater than or equal to its initial value, par plus the call premium; if the notes are not called and the final level of the least-performing underlying is below its initial level but at least 70% of its initial level, par plus 10%; otherwise, 1% loss for each 1% decline of the least-performing underlying from its initial level
|
| Call: | At par plus an annualized call premium of 9.5% if each underlying closes at or above its initial level on any monthly call valuation date
|
| Initial levels: | $62.14 for SPDR S&P Regional Banking, $177.62 for Invesco QQQ Trust and 1,663.34 for Russell 2000
|
| Barrier levels: | $43.50 for SPDR S&P Regional Banking, $124.33 for Invesco QQQ Trust and 1,164.34 for Russell 2000, 70% of initial levels
|
| Pricing date: | July 27
|
| Settlement date: | Aug. 1
|
| Agent: | Barclays
|
| Fees: | 2.95%
|
| Cusip: | 06746XK51
|
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