Published on 8/14/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $7.59 million semiannual autocallable notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 14 – Barclays Bank plc priced $7.59 million of 0% semiannual autocallable notes due Feb. 11, 2021 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 11.25% if each asset closes at or above its initial level on any semiannual 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 80% buffer level, the payout will be par.
If either underlying asset finishes below its 80% buffer level, investors will lose 1.25% for each 1% loss of the worse performing asset beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Semiannual autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $7,586,000
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| Maturity: | Feb. 11, 2021
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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 buffer level, par; otherwise, investors will be lose 1.25% for each 1% loss of the worse performing asset beyond 20%
|
| Call: | At par plus an semiannual call premium of 11.25% if each asset closes at or above its initial level on any semiannual call valuation date
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| Initial levels: | 1,500.69 for Russell, 2,883.98 for S&P
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 13
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| Agent: | Barclays
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| Fees: | 0.05%
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| Cusip: | 06747NDL5
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