Published on 5/11/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3 million buffered autocallables on Russell, iShares MSCI EAFE
New York, May 11 – Barclays Bank plc priced $3 million of 0% buffered autocallable notes due Nov. 15, 2018 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be called at par plus a call premium if each underlying closes at or above its initial level on a call valuation date. The premium is 5.2% for the Nov. 8, 2017 valuation date, 10.4% for the May 8, 2018 valuation date and 15.6% for the Nov. 9, 2018 valuation date.
If the return of the lesser-performing underlying is at least negative 20%, the payout at maturity will be par. Otherwise, investors will lose 1.25% for every 1% decline of the lesser-performing underlying beyond 20%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable notes
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Underlyings: | Russell 2000 index, iShares MSCI EAFE ETF
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Amount: | $3 million
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Maturity: | Nov. 15, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either underlying closes below 20% buffer in which case 1.25% loss for each decline of lowest performing underlying beyond 20%
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Call: | Par plus a call premium if each underlying closes at or above its initial level on a call valuation date; premium is 5.2% for the Nov. 8, 2017 valuation date, 10.4% for the May 8, 2018 valuation date and 15.6% for the Nov. 9, 2018 valuation date
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Initial levels: | 1,391.64 for Russell 2000, $65.10 for MSCI EAFE ETF
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Pricing date: | May 9
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Settlement date: | May 12
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Agent: | Barclays
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Fees: | 0.2%
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Cusip: | 06741VVE9
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