Published on 6/27/2019 in the Prospect News Structured Products Daily.
Correction: Barclays revises amount of annual autocallable notes on S&P, Russell to $6.25 million
By Wendy Van Sickle
Columbus, Ohio, June 27 – Barclays Bank plc priced $6.25 million of 0% annual autocallable notes due June 25, 2024 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to an amended 424B2 filing with the Securities and Exchange Commission.
The issuer previously reported pricing a lesser amount of the notes, as reported by Prospect News on June 24.
The notes will be called at par plus an annual call premium of 10.2% if each asset closes at or above its initial level on any annual call valuation date.
If the least performing asset finishes at or above its initial level, the payout at maturity will be par plus the call premium for the final valuation date.
If the least performing asset falls but finishes at or above its 60% barrier level, the payout will be par.
If either underlying asset finishes below its 60% barrier level, investors will be exposed to any losses of the worse performing asset.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Annual autocallable notes
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $6,251,000
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Maturity: | June 25, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the least performing asset finishes at or above initial level, par plus call premium; if the least performing asset falls but finishes at or above its barrier level, par; otherwise, investors will be exposed to any losses of the worse performing asset
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Call: | At par plus an annual call premium of 10.2% if each asset closes at or above its initial level on any annual call valuation date
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Initial levels: | 1,563.50 for Russell, 2,954.18 for S&P
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Barrier levels: | 938.10 for Russell, 1,772.51 for S&P, 60% of initial levels
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Pricing date: | June 20
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Settlement date: | June 26
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06747MZ90
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