Published on 1/30/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.13 million autocallable notes tied to S&P, oil and gas ETF
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – Barclays Bank plc priced $1.13 million of 0% autocallable notes due Jan. 29, 2024 linked to the lesser performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If each asset closes at or of its initial level on any of the first three annual call valuation dates or above its 60% barrier level on the final valuation date, the notes will be automatically called at par plus an 11.5% annualized premium.
If the notes are not called, investors will lose 1% for each 1% decline of the lesser-performing asset from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underlying assets: | S&P 500 index, SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $1,129,000
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Maturity: | Jan. 29, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If notes are not called, 1% loss for each 1% decline of the lesser-performing asset from its initial level
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Call: | Annually at par plus 11.5% a year if each asset closes above initial level on first three annual call observation date or above barrier level on final observation date
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Initial levels: | 3,295.47 for S&P, $20.44 for ETF
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Barrier levels: | 1,977.28 for S&P, $12.26 for ETF; 60% of initial levels
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Pricing date: | Jan. 24
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Settlement date: | Jan. 31
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Agent: | Barclays
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Fees: | 0.7%
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Cusip: | 06747NZD9
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