Published on 2/28/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.72 million annual autocallable notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Feb. 28 – Barclays Bank plc priced $1.72 million of 0% annual autocallable notes due Feb. 29, 2024 linked to the lesser 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 8.5% per year if both indexes close at or above their initial levels on any annual call date.
If the notes are not called and the final level of the lesser-performing index is at least 70% 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: | $1,721,000
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Maturity: | Feb. 29, 2024
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Coupon: | 0%
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Price: | Par
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Call: | Par plus call premium of 8.5% per year if both indexes finish at or above their initial levels on any annual call date
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Payout at maturity: | Par if final level of the lesser-performing index is at least 70% of the initial share price; otherwise, full exposure to decline
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Initial levels: | 2,796.11 for S&P 500; 1,588.81 for Russell 2000
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Barrier levels: | 1,957.28 for S&P 500; 1,112.17 for Russell 2000, 70% of initial price
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Pricing date: | Feb. 25
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Settlement date: | Feb. 28
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Agent: | Barclays
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Fees: | 4.125%
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Cusip: | 06747MBP0
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