Published on 1/7/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3 million annual autocallables on S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – Barclays Bank plc priced $3 million of 0% annual autocallable notes due Dec. 29, 2023 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 automatically called at par plus 7.1% per year if each index closes at or above its initial level on Dec. 30, 2019, Dec. 28, 2020, Dec. 28, 2021, Dec. 28, 2022 or Dec. 26, 2023.
If the notes are not called and the final level of the least performing index is greater than or equal to its initial level, the notes will be called. If the least-performing index falls but finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones Industrial Average
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| Amount: | $2,998,000
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| Maturity: | Dec. 29, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of least-performing index is greater than or equal to barrier level, par; otherwise, full exposure to decline of least-performing index from initial level
|
| Call: | Automatically at par plus 7.1% per year if each index closes at or above its initial level on Dec. 30, 2019, Dec. 28, 2020, Dec. 28, 2021, Dec. 28, 2022 or Dec. 26, 2023
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| Initial levels: | 2,485.74 for S&P, 1,337.92 for Russell, 23,062.4 for Dow
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| Barrier levels: | 1,491.44 for S&P, 802.75 for Russell, 13,837.55 for Dow, 60% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Jan. 3
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| Agent: | Barclays
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| Fees: | 4.125%
|
| Cusip: | 06747M5C6
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