Published on 4/30/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.31 million buffered autocallable notes tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, April 30 – Barclays Bank plc priced $1.31 million of buffered autocallable notes due May 3, 2022 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon of 6.5% per year if each asset closes at or above its coupon barrier, 80% of its initial level, on the related observation date.
The notes will be called at par if each asset closes at or above its initial level on any monthly call valuation date.
The payout at maturity will be par unless either asset falls by more than 20%, in which case investors will lose 1% for each 1% decline of the worse performing asset beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable notes
|
| Underliers: | S&P 500 index and Russell 2000 index
|
| Amount: | $1,309,000
|
| Maturity: | May 3, 2022
|
| Coupon: | 6.5% per year, payable monthly if each underlier closes at or above coupon barrier on determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 20%
|
| Call: | Automatically at par if each underlier closes at or above initial level on any monthly determination date
|
| Initial levels: | 2,863.39 for S&P, 1,298.08 for Russell
|
| Coupon barriers: | 2,290.71 for S&P, 1,038.46 for Russell; 80% of initial levels
|
| Buffer levels: | 2,290.71 for S&P, 1,038.46 for Russell; 80% of initial levels
|
| Pricing date: | April 28
|
| Settlement date: | April 30
|
| Agent: | Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06747PPS2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
