Published on 12/11/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.5 million trigger jump autocallables linked to three indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 11 – Barclays Bank plc priced $3.5 million of 0% trigger jump securities with autocallable feature due Dec. 11, 2023 linked to the least performing of the Euro Stoxx Banks index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Dec. 14, 2020, the notes will be automatically called at par of $10 plus a premium of 13.5% per year if each index closes at or above its initial level on any quarterly determination date other than the final determination date.
If the notes are not called and each index finishes at or above its trigger value, 70% of its initial level, the payout at maturity will be par plus 21%. Otherwise, investors will lose 1% for each 1% that the least-performing index declines from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger jump securities with autocallable feature
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| Underlying indexes: | Euro Stoxx Banks, Russell 2000 and S&P 500
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| Amount: | $3,495,000
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| Maturity: | Dec. 11, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If notes are not called and each index finishes at or above trigger value, par plus 21%; otherwise, 1% loss for each 1% that least-performing index declines from initial level
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| Call: | Beginning Dec. 14, 2020, notes will be automatically called at par plus premium of 13.5% per year if each index closes at or above initial level on any quarterly determination date other than final determination date
|
| Initial levels: | 93.9 for Stoxx Banks, 1,633.837 for Russell 2000 and 3,145.91 for S&P 500
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| Trigger values: | 65.73 for Stoxx Banks, 1,143.686 for Russell 2000 and 2,202.137 for S&P 500, 70% of initial index levels
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 11
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 3%
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| Cusip: | 06747E658
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