By Wendy Van Sickle
Columbus, Ohio, Aug. 3 – Barclays Bank plc priced $6.52 million of 0% jump securities with autocallable feature due Aug. 3, 2020 linked to the Euro Stoxx Banks index, according to a 424B2 with the Securities and Exchange Commission.
The notes will be called quarterly after a year at par plus an annualized premium of 13% if the index closes above its initial level on a review date.
If the index finishes at or above the initial level, the payout at maturity will equal par plus 65%; if the index falls but finishes above its trigger level, 75% of the initial level, par.
Otherwise, investors will lose 1% for each 1% decline from the initial level.
Barclays is the agent, with Morgan Stanley Wealth Management as dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable jump securities
|
| Underlying index: | Euro Stoxx Banks
|
| Amount: | $6,523,000
|
| Maturity: | Aug. 3, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Quarterly after a year at par plus an annualized premium of 13% if the index closes above its initial level on related review date
|
| Payout at maturity: | If the index finishes at or above its initial level, par plus 65%; par if index falls by up to 25%; otherwise, investors will lose 1% for each 1% decline from the initial level
|
| Initial index level: | 135.99
|
| Trigger value: | 101.993, 75% of initial level
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 3
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 06744CCY5
|
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