Published on 5/23/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $948,000 autocallable notes tied to Russell, S&P, MSCI EAFE ETF
By Wendy Van Sickle
Columbus, Ohio, May 23 – Barclays Bank plc priced $948,000 of 0% autocallable notes due May 22, 2024 linked to the least performing index of the Russell 2000 index, the S&P 500 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
After one year, the notes will be automatically called at par plus an annualized call premium of 8.5% if each underlying closes at or above its initial level on any quarterly call valuation date.
If the notes are not called and the final level of the least-performing underlying is at least 56% of its initial level, the payout at maturity will be par plus the digital percentage of 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
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| Issue: | Autocallable notes
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| Underlying assets: | Russell 2000 index, S&P 500 index and Shares MSCI EAFE ETF
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| Amount: | $948,000
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| Maturity: | May 22, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the final level of the least-performing underlying is at least 56% of its initial level, par plus 10%; otherwise, 1% loss for each 1% decline of the least-performing underlying from its initial level
|
| Call: | After one year, at par plus an annualized call premium of 8.5% if each underlying closes at or above its initial level on any quarterly call valuation date
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| Initial levels: | 1,535.76 for Russell and 2,859.53 for S&P, $64.77 for fund
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| Barrier levels: | 860.03 for Russell and 1,601.34 for S&P, $36.27 for fund, 56% of initial levels
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| Pricing date: | May 17
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| Settlement date: | May 22
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| Agent: | Barclays
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| Fees: | 3.75%
|
| Cusip: | 06747MUT1
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