Published on 10/9/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.09 million step-down trigger autocallable notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 9 – Barclays Bank plc priced $3.09 million 0% step-down trigger autocallable notes due Oct. 9, 2024 linked to the least performing of the MSCI EAFE index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus a call return rate if each index closes above its initial level on any quarterly observation date after one year or above its 55% downside threshold level on the maturity date. The call return rate is 7.2% per year.
If the notes are not called, the worst performing index has finished below 55% of its initial level and investors will be fully exposed to the losses of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | MSCI EAFE index, the Russell 2000 index and the S&P 500 index
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| Amount: | $3,088,000
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| Maturity: | Oct. 9, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Call return of par plus 36% if all indexes close above their 55% downside threshold price, otherwise full exposure to losses of worst performing index
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| Call: | Par of $10 plus annual call return rate of 7.2% if all indexes close above initial level on any quarterly observation date after one year
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| Initial levels: | 1,854.43 for MSCI EAFE, 1,500.702 for Russell 2000 and 2,952.01 for S&P 500
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| Downside threshold levels: | 1,019.94 for MSCI EAFE, 825.386 for Russell 2000 and 1,623.61 for S&P 500, 55% of initial levels
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| Pricing date: | Oct. 4
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| Settlement date: | Oct. 8
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| Agent: | Barclays
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| Fees: | 2.5%
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| Cusip: | 06747D759
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