Published on 3/6/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.23 million autocallables tied to S&P 500, Russell
By Susanna Moon
Chicago, March 6 – Barclays Bank plc priced $1.23 million of 0% autocallable notes due Feb. 22, 2023 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be called at par plus an annualized premium of 9.75% if each index closes at or above its initial level on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par unless either index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $1,228,000
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Maturity: | Feb. 22, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either index falls by more than 30%, in which case 1% loss per 1% decline of worse performing index
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Call: | At par plus 9.75% per year if each index closes at or above initial level on quarterly call valuation date beginning on the fourth date
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Initial index levels: | 1,543.55 for Russell and 2,732.22 for S&P
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Barrier levels: | 1,080.49 for Russell and 1,912.55 for S&P, 70% of initial levels
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Pricing date: | Feb. 16
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Settlement date: | Feb. 22
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Agent: | Barclays
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Fees: | 1.075%
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Cusip: | 06744CWU1
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