Published on 12/4/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.17 million contingent income autocallables tied to indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Barclays Bank plc priced $4.17 million of contingent income autocallable securities due June 2, 2020 linked to the least performing of the Euro Stoxx Banks index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 12% if each index closes at or above its 75% coupon barrier on each day during the determination period for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly determination date other than the final date.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 75% downside threshold, in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Euro Stoxx Banks, S&P 500 and Russell 2000
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| Amount: | $4.17 million
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| Maturity: | June 2, 2020
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| Coupon: | 12% per year, payable quarterly if each index closes at or above 75% coupon barrier on each day during determination period for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, full exposure to decline of worst performing index
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| Call: | At par if each index closes at or above its initial level on any interest payment date other than final date
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| Initial levels: | 1,536.433 for Russell, 2,627.04 for S&P and 131.34 for Stoxx Banks
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| Downside thresholds: | 1,152.325 for Russell, 1,970.280 for S&P and 98.505 for Stoxx Banks; 75% of initial levels
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| Pricing date: | Nov. 28
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| Settlement date: | Dec. 1
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 06744CMZ1
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