Published on 5/22/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $8.22 million fixed-rate autocallable notes on S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, May 22 – Barclays Bank plc priced $8.22 million of 8% fixed-rate autocallable notes due May 20, 2021 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par, unless any index finishes below its initial level and any index ever closes below its barrier level, 70% of the initial level, any day during the life of the notes, in which case investors will be fully exposed to the decline of the least performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Fixed-rate autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $8.22 million
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| Maturity: | May 20, 2021
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| Coupon: | 8%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index ever closes below barrier, in which case, full exposure to loss of least performing index
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| Call: | At par if each index closes at or above its initial level on any annual quarterly observation date after a year
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| Initial levels: | 1,548.27 for Russell, 2,850.96 for S&P, 25,648.02 for Dow
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| Barrier levels: | 1,083.79 for Russell, 1,995.67 for S&P, 17,953.61 for Dow; 70% of initial levels
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| Pricing date: | May 15
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| Settlement date: | May 20
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| Agent: | Barclays
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| Fees: | 0.65%
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| Cusip: | 06747MT30
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