Published on 4/18/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $80.59 million contingent income autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 18 – Barclays Bank plc priced $80.59 million of contingent income autocallable securities due April 16, 2027 linked to the least performing of the S&P 500 index, the Nikkei 225 index and the Russell 2000 index according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 11.8% per year if each index closes at or above its coupon barrier level, 75% of its initial level, every day that period.
The notes will be automatically called at par plus any coupon otherwise due if each index closes at or above its initial level on any quarterly observation date after six months.
If each index finishes at or above its 70% downside threshold level, the payout at maturity will be par plus any coupon otherwise due.
Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.
Issuer: | Barclays Bank plc
|
Issue: | Contingent income autocallable securities
|
Underlying indexes: | S&P 500 index, Nikkei 225 index, Russell 2000 index
|
Amount: | $80.59 million
|
Maturity: | April 16, 2027
|
Coupon: | 11.8% per year, payable quarterly if each index closes at or above coupon barrier level every day that period
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above downside threshold level, par plus any coupon otherwise due; otherwise, 1% loss for every 1% that least performing index declines from initial level
|
Call: | Automatically at par plus any coupon otherwise due if each index closes at or above initial level on any quarterly observation date after six months
|
Initial index levels: | 39,523.55 for Nikkei, 2,003.174 for Russell, 5,123.41 for S&P
|
Coupon barrier levels: | 29,642.663 for Nikkei, 1,502.381 for Russell, 3,842.558 for S&P; 75% of initial levels
|
Downside threshold levels: | 27,666.485 for Nikkei, 1,402.222 for Russell, 3,586.387 for S&P; 70% of initial levels
|
Pricing date: | April 12
|
Settlement date: | April 17
|
Agent: | Barclays
|
Selected dealer: | Morgan Stanley Wealth Management
|
Fees: | 1.93%
|
Cusip: | 06745QLP2
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.