Published on 3/27/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.51 million annual autocallables linked to three indexes
By Wendy Van Sickle
Columbus, Ohio, March 27 – Barclays Bank plc priced $1.51 million of 0% annual autocallable notes due March 27, 2025 linked to the least performing of the S&P 500 index, the Dow Jones industrial average 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 a call premium of 10% per year if each index closes at or above its call barrier level on any annual call valuation date. For each index, the call barrier level will be 92% of its initial level on the first three call dates and 95% on the last three dates.
If the notes are not called and the least-performing index finishes at or above its barrier level, 75% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index declines from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual autocallable notes
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| Underlying indexes: | S&P 500, Dow Jones industrial average and Russell 2000
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| Amount: | $1,514,000
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| Maturity: | March 27, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If notes are not called and least-performing index finishes at or above barrier level, par; otherwise, 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Automatically at par plus call premium of 10% per year if each index closes at or above call barrier level on any annual call valuation date
|
| Initial levels: | 2,800.71 for S&P 500, 25,502.32 for Dow and 1,505.92 for Russell
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| Barrier levels: | 2,100.53 for S&P 500, 19,126.74 for Dow and 1,129.44 for Russell; 75% of initial levels
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| Call barrier levels: | 92% of initial level on the first three call dates and 95% on the last three dates
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| Pricing date: | March 22
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| Settlement date: | March 29
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| Agent: | Barclays
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| Fees: | 0.4%
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| Cusip: | 06747MJ56
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