Published on 10/8/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.15 million buffered autocallable notes tied to S&P, Dow
By Kiku Steinfeld
Chicago, Oct. 8 – Barclays Bank plc priced $1.15 million of buffered autocallable notes due Oct. 4, 2022 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 9% if each index closes at or above its initial level on Oct. 6, 2021.
If the final level of the lesser-performing index is greater than or equal to its initial level, the payout at maturity will be par plus 1.5 times the return of the lesser-performing index. If the final level of the lesser-performing index is less than its initial level but greater than or equal to its buffer level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index beyond 10%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable notes
|
| Underlying indexes: | S&P 500 index and Dow Jones industrial average
|
| Amount: | $1.15 million
|
| Maturity: | Oct. 4, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of lesser-performing index is greater than or equal to initial level, par plus 1.5 times return of lesser-performing index; if final level of lesser-performing index is less than initial level but greater than or equal to buffer level, par; otherwise, 1% loss for each 1% decline of lesser-performing index beyond 10%
|
| Call: | At par plus 9% if each index closes at or above initial level on Oct. 6, 2021
|
| Initial levels: | 3,335.47 for S&P, 27,452.66 for Dow
|
| Coupon barriers: | 3,001.92 for S&P, 24,707.39 for Dow; 90% of initial levels
|
| Buffer levels: | 3,001.92 for S&P, 24,707.39 for Dow; 90% of initial levels
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 2
|
| Agent: | Barclays
|
| Fees: | 0.4%
|
| Cusip: | 06747QKE6
|
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