Published on 12/7/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $856,000 annual autocallables tied to S&P, Russell
By Sarah Lizee
Olympia, Wash., Dec. 7 – Barclays Bank plc priced $856,000 of 0% annual autocallable notes due Nov. 30, 2023 linked to the lesser performing index 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 automatically called at par plus an annualized call price of 10% if each index closes at or above its initial level on any annual call valuation date.
If the notes are not called and the final level of the lesser-performing index is at least 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the lesser-performing index from its initial level.
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 and Russell 2000
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Amount: | $856,000
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Maturity: | Nov. 30, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of lesser-performing index is greater than or equal to 60% of initial level, par; otherwise, full exposure to decline of laggard index
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Call: | Automatically at par plus 10% per year if each index closes at or above initial level on any annual valuation date
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Initial index levels: | 1,533.27 for Russell, 2,760.17 for S&P
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Barrier levels: | 919.96 for Russell, 1,656.10 for S&P, 60% of initial levels
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Pricing date: | Nov. 30
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Settlement date: | Dec. 5
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Agent: | Barclays
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Fees: | 1.125%
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Cusip: | 06746XWC3
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