Published on 5/29/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.58 million buffered autocallables linked to indexes
By Sarah Lizee
Olympia, Wash., May 29 – Barclays Bank plc priced $3.58 million of 0% buffered autocallable notes due May 28, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be called at par plus an annualized premium of 8.7% if each index closes at or above its call level on any annual call valuation date. The call level will be 100% of the initial index levels on the first call date, stepping down by 5% each year until the last call date, when it will step down by 10% to a final call level of 70% of the initial index levels.
If the notes are not called, the payout at maturity will be par plus 1.4286% for every 1% decline of the least performing asset beyond 30%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable notes
|
| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
|
| Amount: | $3.58 million
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| Maturity: | May 28, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called, par plus 1.4286% for every 1% decline of the least performing asset beyond 30%
|
| Call: | Automatically called at par plus an annualized premium of 8.7% if each index closes at or above its call level on any annual call valuation date; call level will be 100% of the initial index levels on the first call date, stepping down by 5% each year until the last call date, when it will step down by 10% to a final call level of 70% of the initial index levels
|
| Initial index levels: | 1,531.63 for Russell 2000 and 2,856.27 for S&P 500, 7,420.66 for Nasdaq
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| Buffer levels: | 1,072.14 for Russell 2000 and 1,999.39 for S&P 500, 5,194.46 for Nasdaq; 70% of initial levels
|
| Pricing date: | May 22
|
| Settlement date: | May 28
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| Agent: | Barclays
|
| Fees: | 0.55%
|
| Cusip: | 06747MUG9
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