Published on 5/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $804,000 buffered autocallable notes tied to two ETFs
By Sarah Lizee
Olympia, Wash., May 30 – Barclays Bank plc priced $804,000 of buffered autocallable notes due May 27, 2021 linked to the least performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon of 7.15% per year if each asset closes at or above its coupon barrier, 80% of its initial level, on the related observation date, plus any previously unpaid coupons.
The notes will be called at par if each asset closes at or above its initial level on any monthlycall valuation date after six months.
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: | SPDR S&P Oil & Gas Exploration & Production ETF and VanEck Vectors Gold Miners ETF
|
| Amount: | $804,000
|
| Maturity: | May 27, 2021
|
| Coupon: | 7.15% 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: | After six months, automatically at par if each underlier closes at or above initial level on any monthly determination date
|
| Initial levels: | $27.12 for Oil & Gas, $20.57 for Gold
|
| Coupon barriers: | $21.70 for Oil & Gas, $16.46 for Gold; 80% of initial levels
|
| Buffer levels: | $21.70 for Oil & Gas, $16.46 for Gold; 80% of initial levels
|
| Pricing date: | May 24
|
| Settlement date: | May 30
|
| Agent: | Barclays
|
| Fees: | 2.75%
|
| Cusip: | 06747MVA1
|
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