Published on 9/26/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.03 million annual autocallables tied to S&P, oil fund
By Wendy Van Sickle
Columbus, Ohio, Sept. 26 – Barclays Bank plc priced $1.03 million of annual autocallable notes due Sept. 28, 2022 linked to the least performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 10% if each asset closes at or above its initial level on any call valuation date.
If the notes are not called, the payout at maturity will be par plus 40% unless either underlying asset closes below its 70% barrier level, in which case investors will be exposed to any losses of the worse performing index or fund.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Annual autocallable notes
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Underlying assets: | S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $1,031,000
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Maturity: | Sept. 28, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 40% unless either asset falls by more than 30%, in which case 1% loss per 1% decline of worse performing index or fund
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Call: | At par plus 10% a year if each asset closes at or above its initial level on any annual valuation date
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Initial levels: | 2,929.67 for S&P and $42.49 for oil fund
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Trigger levels: | 2,050.77 for S&P and $29.74 for oil fund, 70% of initial levels
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Pricing date: | Sept. 21
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Settlement date: | Sept. 28
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Agent: | Barclays
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Fees: | 2.9%
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Cusip: | 06746XPG2
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