Published on 7/21/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $254,000 contingent coupon autocallables on S&P, Nasdaq, Dow
By Kiku Steinfeld
Chicago, July 21 – Barclays Bank plc priced $254,000 of autocallable contingent coupon notes due April 21, 2022 linked to the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 11% per annum if each index closes at or above its 70% coupon barrier level on the determination date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any determination date after three months other than the final one.
If the notes are not called, the payout at maturity will be par plus the coupon unless any index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Nasdaq-100, S&P 500 and Dow Jones industrial average
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| Amount: | $254,000
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| Maturity: | April 21, 2022
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| Contingent coupon: | Contingent monthly coupon of 11% if each component closes at or above coupon barrier level on the determination date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of worst-performing index
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| Call option: | Automatically at par plus contingent coupon if each index closes at or above initial level on any determination date after three months other than final one
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| Initial index levels: | 26,671.95 for Dow, 10,645.22 Nasdaq, 3,224.73 for S&P
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| Coupon barrier levels: | 18,670.37 for Dow, 7,451.65 for Nasdaq, 2,257.31 for S&P; 70% of initial levels
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| Final barrier levels: | 18,670.37 for Dow, 7,451.65 for Nasdaq, 2,257.31 for S&P; 70% of initial levels
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| Pricing date: | July 17
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| Settlement date: | July 22
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| Agent: | Barclays
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| Fees: | 0.675%
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| Cusip: | 06747Q4P9
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