Published on 6/12/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.44 million buffered autocallable notes on index, ETF
By Marisa Wong
Morgantown, W.Va., June 12 – Barclays Bank plc priced $2.44 million of buffered autocallable notes due Nov. 20, 2026 linked to the least performing of the Euro Stoxx Banks 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 pay a monthly contingent coupon of 11.5% per year if each asset closes at or above its coupon barrier, 70% of its initial level, on the related monthly observation date.
After one year, the notes will be called at par if each asset closes at or above its initial level on any monthly call valuation date other than the final date.
The payout at maturity will be par unless either asset falls by more than 20%, in which case investors will lose 1% for each 1% decline of the worse performing asset beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable notes
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| Underlying assets: | Euro Stoxx Banks index and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $2,438,000
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| Maturity: | Nov. 20, 2026
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| Coupon: | 11.5% per year, payable monthly if each asset closes at or above coupon barrier on related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless either asset falls by more than 20%, in which case 1% loss for each 1% decline of the worse performing asset beyond 20%
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| Call: | After one year, automatically at par if each asset closes at or above initial level on any monthly determination date other than final date
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| Initial levels: | 93.34 for index, $29.49 for ETF
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| Coupon barriers: | 65.34 for index, $20.64 for ETF; 70% of initial levels
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| Pricing date: | May 17
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| Settlement date: | May 22
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| Agent: | Barclays
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| Fees: | 4.05%
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| Cusip: | 06747MTT3
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