Published on 3/11/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.06 million autocallable notes tied to three ETFs
By Marisa Wong
Los Angeles, March 11 – Barclays Bank plc priced $1.06 million of 0% autocallable notes due March 4, 2025 linked to the least performing of the Real Estate Select Sector SPDR fund, the Utilities Select Sector SPDR fund and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a premium of 7.1% per year if each ETF closes at or above 85% of its initial value on any annual call valuation date, including the final valuation date.
If the notes have not been called and the least performing asset finishes at or above its 70% barrier level, the payout at maturity will be par plus 20%. Otherwise, investors will be fully exposed to the decline of the least performing asset.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underlying assets: | Real Estate Select Sector SPDR fund, Utilities Select Sector SPDR fund and VanEck Vectors Gold Miners ETF
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Amount: | $1,055,000
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Maturity: | March 4, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If notes have not been called and least performing asset finishes at or above its barrier value, par plus 20%; otherwise, full exposure to the decline of the least performing asset
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Call: | At par plus 7.1% per year if each ETF closes at or above initial level on any annual call valuation date, including final valuation date
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Initial values: | $37.72 for real estate ETF, $64.33 for utilities ETF, $28.15 for gold ETF
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Call values: | $32.06 for real estate ETF, $54.68 for utilities ETF, $23.93 for gold ETF; 85% of initial values
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Barrier values: | $26.40 for real estate ETF, $45.03 for utilities ETF, $19.71 for gold ETF; 70% of initial values
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Pricing date: | Feb. 27
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Settlement date: | March 3
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Agent: | Barclays
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Fees: | 4.125%
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Cusip: | 06747PDC0
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