Published on 10/16/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $566,000 buffered autocallable notes tied to Dow, Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 16 – Barclays Bank plc priced $566,000 of buffered autocallable notes due Oct. 17, 2022 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon of 8% per year if each index closes at or above 80% of its initial level on the related observation date.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly call valuation date after six months.
The payout at maturity will be par unless any index falls by more than 20%, in which case investors will lose 1% for each 1% decline of the worst performing asset beyond 20% of initial levels.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable notes
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| Underliers: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $566,000
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| Maturity: | Oct. 17, 2022
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| Coupon: | 8%, payable quarterly if each index closes at or above 80% of its initial level on the related payment date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any underlier finishes below buffer level, in which case 1% loss for every 1% that least-performing underlier declines beyond 20% of initial levels
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| Call: | After six months, automatically at par if each underlier closes at or above initial level on any quarterly call valuation date
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| Initial levels: | 26,816.59 for Dow Jones, 7,843.88 for Nasdaq, 1,511.9 for Russell
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| Coupon barrier levels: | 21,453.27 for Dow Jones, 6,275.1 for Nasdaq, 1,209.52 for Russell, 80% of initial levels
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 17
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| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06747NLN2
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