Published on 12/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $572,000 buffered autocallables on index, ETF
By Sarah Lizee
Olympia, Wash., Dec. 30 – Barclays Bank plc priced $572,000 of 0% buffered autocallable notes due June 25, 2027 linked to the least performing of the Dow Jones industrial average and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 5.8% per year if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the determination date for that month.
The notes will be automatically called at par plus the coupon if each underlier closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par unless either underlier finishes below its buffer level, 70% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines beyond buffer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable notes
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| Underliers: | Dow Jones industrial average, VanEck Vectors Gold Miners ETF
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| Amount: | $572,000
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| Maturity: | June 25, 2027
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| Coupon: | 5.8% per year, payable monthly if each underlier closes at or above coupon barrier level on determination date
|
| Price: | Par
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| Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond buffer
|
| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any quarterly determination date after one year
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| Initial levels: | 28,455.09 for index and $27.13 for fund
|
| Barrier levels: | 19,918.56 for index, $18.99 for fund, 70% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 26
|
| Agent: | Barclays
|
| Fees: | 3.25%
|
| Cusip: | 06747NWC4
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