Published on 2/26/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $518,000 autocallable notes tied to index, ETF
By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – Barclays Bank plc priced $518,000 of 0% autocallable notes due Feb. 26, 2024 linked to the least 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.
The notes will be called at par plus an annualized premium of 9.5% if each asset closes at or above its initial level on any annual observation date other than the final date when the call level will be equal to 60% of each asset’s initial level.
If the notes are not called, at maturity investors will be fully exposed to the decline of the lesser-performing asset.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underliers: | S&P 500 index and SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $518,000
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Maturity: | Feb. 26, 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, full exposure to decline of lesser-performing asset
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Call: | At par plus an annualized premium of 9.5% if each asset closes at or above its initial level on any annual observation date other than the final one when the call level will equal the barrier level
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Initial levels: | 3,337.75 for index, $18.80 for ETF
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Barrier values: | 2,002.65 for index, $11.28 for ETF; 60% of initial levels
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Pricing date: | Feb. 21
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Settlement date: | Feb. 28
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Agent: | Barclays
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Fees: | 2.7%
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Cusip: | 06747P7K9
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