Published on 11/1/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.03 million annual autocallable notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 1 – Barclays Bank plc priced $1.03 million of 0% annual autocallable notes due Oct. 31, 2024 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 annual call premium of 8.75% 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 70% barrier level, the payout will be par.
If either underlying asset finishes below its 70% 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: | $1.03 million
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| Maturity: | Oct. 31, 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 8.75% if each asset closes at or above its initial level on any annual call valuation date
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| Initial levels: | 3,039.42 for S&P, 1,571.93 for Russell
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| Barrier levels: | 2,127.59 for S&P, 1,100.35 for Russell, 70% of initial levels
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| Pricing date: | Oct. 28
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| Settlement date: | Oct. 31
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| Agent: | Barclays
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| Fees: | 4.35%
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| Cusip: | 06747NJW5
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