Published on 12/10/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $226,000 7% autocallable fixed-coupon notes on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 10 – Barclays Bank plc priced $226,000 of autocallable fixed-coupon notes due Aug. 31, 2020 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 7% per year and will be payable monthly.
The notes will be automatically called at par if each index closes at or above its initial level on May 27, 2020.
If the notes are not called, the payout at maturity will be par unless either index closes below its barrier level, 75% of its initial level, during the life of the notes and the lesser-performing index finishes below its initial level, in which case the payout will be par minus 1% for every 1% that the lesser-performing index declines from its initial level.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable fixed-coupon notes
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Underlying indexes: | Nasdaq-100 index and Russell 2000 index
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Amount: | $226,000
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Maturity: | Aug. 31, 2020
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Coupon: | 7%, payable monthly
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Price: | Par
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Call: | At par if each index closes at or above initial level on May 27, 2020
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Payout at maturity: | Par unless either index closes below its barrier level, during life of notes and lesser-performing index finishes below initial level, in which case par minus 1% for every 1% that lesser-performing index declines from initial level
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Initial levels: | 8,444.71 for Nasdaq and 1,634.1 for Russell
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Barrier levels: | 6,333.53 for Nasdaq and 1,225.58 for Russell; 75% of initial levels
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Pricing date: | Nov. 27
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Settlement date: | Dec. 3
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Agent: | Barclays
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Fees: | 0.7%
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Cusip: | 06747NQ64
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