Published on 2/26/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.13 million autocallable notes tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – Barclays Bank plc priced $3.13 million of 0% autocallable notes due Feb. 25, 2027 linked to the least performing index of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 9.15% annualized call premium if each index closes above its initial level on any annual observation date except the final one, when the call level will be 80% of each index’s initial level.
If the notes are not called, the payout at maturity will be par unless any index finishes below its 70% barrier level, in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underlying assets: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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Amount: | $3,127,000
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Maturity: | Feb. 25, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If notes are not called, par unless any index finishes below its 70% barrier level, in which case investors will be fully exposed to the decline of the worst performing index
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Call: | At par plus a 9.15% annualized call premium if each index closes above its initial level on any annual observation date except the final one, when the call level will be 80% of each index’s initial level
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Initial levels: | 9,446.69 for Nasdaq, 3,337.75 for S&P, 28,992.41 for Dow
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Barrier levels: | 70% of initial levels
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Pricing date: | Feb. 21
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Settlement date: | Feb. 26
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06747PCN7
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