Published on 4/2/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million autocallable notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., April 2 – Barclays Bank plc priced $1 million of autocallable notes due April 1, 2027 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 9% annualized call premium if the index closes at or above its initial level on any annual valuation date.
If index finishes at or above its 90% redemption threshold, the payout at maturity will be par plus 27%.
If the index declines by more than 10% but finishes at or above its 70% barrier, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the index.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Autocallable notes
|
Underlying index: | S&P 500 index
|
Amount: | $1 million
|
Maturity: | April 1, 2027
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index finishes at or above redemption barrier, par plus 27%; if index declines by more than 10% but finishes at or above threshold, par; otherwise, full exposure to decline from initial level
|
Call: | Automatically at par plus a 9% annualized call premium if the index closes at or above initial level on any annual valuation date
|
Initial level: | 5,203.58
|
Redemption barrier: | 4,683.22; 90% of initial value
|
Threshold: | 3,642.51; 70% of initial value
|
Pricing date: | March 26
|
Settlement date: | April 1
|
Agent: | Barclays
|
Fees: | 0.7%
|
Cusip: | 06745QD22
|
|
© 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.