Published on 6/18/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million autocallable notes tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, June 18 – Barclays Bank plc priced $1 million of 0% autocallable notes due June 15, 2023 linked to the least performing index of the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 10% annualized call premium if each index closes above its initial level on any semiannual call date.
If the notes are not called, the payout at maturity will be par unless any index finishes below its 60% barrier level, in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Autocallable notes
|
Underlying assets: | Dow Jones industrial average, S&P 500 index and Nasdaq-100 index
|
Amount: | $1,004,000
|
Maturity: | June 15, 2023
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If notes are not called, par unless any index finishes below barrier, in which case full exposure to decline of worst performing index
|
Call: | At par plus 10% annualized call premium if each index closes above initial level on any semiannual call date
|
Initial levels: | 3,041.31 for S&P, 9,663.77 for Nasdaq, 25,605.54 for Dow
|
Barriers: | 1,824.79 for S&P, 5,798.26 for Nasdaq, 15,363.32 for Dow, 60% of initial levels
|
Pricing date: | June 12
|
Settlement date: | June 17
|
Agent: | Barclays
|
Fees: | 2.8%
|
Cusip: | 06747PWM7
|
|
© 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.