Published on 6/18/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $9.73 million contingent income autocalls on three indexes
By Wendy Van Sickle
Columbus, Ohio, June 18 – Barclays Bank plc priced $9.73 million of contingent income autocallable securities due Dec. 17, 2020 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx Banks index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its 60% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any call review date other than the final date.
The payout at maturity will be par unless any index closes below its downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Contingent income callable securities
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Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx Banks
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Amount: | $9,729,000
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Maturity: | Dec. 17, 2020
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Coupon: | 7% annualized, payable quarterly if each index closes at or above downside threshold on observation date that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
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Call option: | At par on any contingent payment date other than the final date
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Initial levels: | 1,676.537 for Russell, 2,775.63 for S&P and 114.37 for Stoxx
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Downside thresholds: | 1,005.922 for Russell, 1,665.378 for S&P and 68.622 for Stoxx, 60% of initial levels
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Pricing date: | June 13
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Settlement date: | June 18
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Agent: | Barclays
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Fees: | 2.25%
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Cusip: | 06746XF32
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