Published on 3/27/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $606,000 annual autocallable notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, March 27 – Barclays Bank plc priced $606,000 of 0% annual autocallable notes due March 27, 2023 linked to the lesser performing index of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized call premium of 11.25% if each underlying 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 underlying is at least 65% of its initial level, the payout at maturity will be par plus 45%. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing underlying 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 assets: | S&P 500 index, SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $606,000
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Maturity: | March 27, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final level of the lesser-performing underlying is at least 65% of its initial level, par plus 45%; otherwise, 1% loss for each 1% decline of the lesser-performing underlying from its initial level
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Call: | At par plus an annualized call premium of 11.25% if each underlying closes at or above its initial level on any annual call valuation date
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Initial levels: | 2,800.71 for index and $30.06 for ETF
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Barrier levels: | 1,820.46 for index and $19.54 for ETF, 65% of initial levels
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Pricing date: | March 22
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Settlement date: | March 29
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Agent: | Barclays
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Fees: | 0.65%
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Cusip: | 06747MFE1
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