Published on 5/31/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.7 million trigger jump autocallables linked to three indexes
By Kiku Steinfeld
Chicago, June 1 – Barclays Bank plc priced $5.7 million of 0% trigger jump securities with autocallable feature due May 25, 2023 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Nov. 25, 2020, the notes will be automatically called at par of $10 plus a premium of 5.55% per year if each index closes at or above its initial level on any quarterly determination date other than the final determination date.
If the notes are not called and each index finishes at or above its trigger value, 50% of its initial level, the payout at maturity will be par plus 16.65%. Otherwise, investors will lose 1% for each 1% that the least-performing index declines from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger jump securities with autocallable feature
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 and S&P 500
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| Amount: | $5,701,800
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| Maturity: | May 25, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If notes are not called and each index finishes at or above trigger value, par plus 16.65%; otherwise, 1% loss for each 1% that least-performing index declines from initial level
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| Call: | Beginning Nov. 25, 2020, notes will be automatically called at par plus premium of 5.5% per year if each index closes at or above initial level on any quarterly determination date other than final determination date
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| Initial levels: | 24,575.90 for Dow, 1,346.927 for Russell 2000 and 2,971.61 for S&P 500
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| Trigger values: | 12,287.950 for Dow, 673.464 for Russell 2000 and 1,485.805 for S&P 500, 50% of initial index levels
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| Pricing date: | May 20
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| Settlement date: | May 26
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 06747H784
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