Published on 8/15/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.37 million step down trigger autocallables on S&P, Russell, MSCI EAFE
By Wendy Van Sickle
Columbus, Ohio, Aug. 15 – Barclays Bank plc priced $5.37 million of 0% step down trigger autocallable notes due Aug. 15, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
After one year, the notes will be automatically called at par of $10 plus 7% per year if each index closes at or above its initial level on any quarterly observation date prior to the final one when the call threshold will be the 55% downside threshold.
If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold, 55% of its initial level, and investors will be exposed to the decline of the least-performing index from its initial level.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, MSCI EAFE index
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| Amount: | $5,367,200
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| Maturity: | Aug. 15, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Full exposure to decline of least-performing index from initial level
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| Call: | After one year, at par plus 7% per year if each index closes at or above its initial level on any quarterly observation date, other than the final one when the call threshold will be 70% of the initial levels
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| Initial index levels: | 1,838.76 for MSCI EAFE, 2,883.75 for S&P, 1,494.275 for Russell
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| Downside thresholds: | 1,011.32 for MSCI EAFE, 1,586.06 for S&P, 821.851 for Russell; 55% of initial levels
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| Pricing date: | Aug. 12
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| Settlement date: | Aug. 15
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| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
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| Fees: | 2.5%
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| Cusip: | 06747C470
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