Published on 4/10/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.88 million contingent income autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., April 10 – Barclays Bank plc priced $5.88 million of contingent income autocallable securities due April 1, 2022 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the Topix index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 9% if each index closes at or above its threshold level, 70% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date other than the final one.
The payout at maturity will be par unless the final level of any index is less than its threshold level, in which case investors will be fully exposed to the decline of the worst-performing index.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and Topix
|
| Amount: | $5,877,000
|
| Maturity: | April 1, 2022
|
| Coupon: | Each quarter, notes pay contingent coupon at an annual rate of 9% if each index closes at or above threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above threshold level, par; if final level of any index is less than threshold level, full exposure to decline of worst-performing index
|
| Call: | Automatically at par if each index closes at or above its initial level on any quarterly determination date other than final one
|
| Initial index levels: | 1,371.645 for Russell 2000, 3,475.27 for Euro Stoxx 50 and 1,542.07 for Topix
|
| Threshold levels | : | 960.152 for Russell 2000, 2,432.689 for Euro Stoxx 50 and 1,079.449 for Topix, or 70% of initial levels
|
| Pricing date: | March 29
|
| Settlement date: | April 3
|
| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 06741VPU0
|
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