Published on 3/4/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $475,000 seven-year autocalls tied to Trailblazer Sectors
By Sarah Lizee
Olympia, Wash., March 4 – Barclays Bank plc priced $475,000 of 0% autocallable notes due Feb. 26, 2027 linked to the Barclays Trailblazer Sectors 5 index, according to a 424B2 filing with the Securities and Exchange Commission.
After two years, the notes will be called at par plus a call premium of 5% per year if the index closes at or above the call level on any annual call date.
The call level is 105.5% of the initial level on the first call review date and steps up by 275 percentage points on each subsequent call review date.
If the notes are not called and the final index level is greater than the final call level, 119.25% of the initial level, the payout at maturity will be par plus 35%.
If the final index level is less than or equal to the final call level, the payout will be par.
The index includes an index fee of 0.85% per annum.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying index: | Barclays Trailblazer Sectors 5 index
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| Amount: | $475,000
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| Maturity: | Feb. 26, 2027
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final index level is greater than final call level, par plus 35%; if final index level is less than or equal to final call level, par
|
| Call: | At par plus an annual call premium of 5% if index closes at or above its call level on Feb. 25, 2022, Feb. 27, 2023, Feb. 26, 2024, Feb. 25, 2025, Feb. 25, 2026
|
| Initial level: | 212.438
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| Call level: | 224.1221, or 105.5% of the initial level, on Feb. 25, 2022, 229.9641, or 108.25% of the initial level, on Feb. 27, 2023, 235.8062, or 111% of the initial level, on Feb. 26, 2024, 241.6482, or 113.75% of the initial level, on Feb. 25, 2025, 247.4903, or 116.5% of the initial level, on Feb. 25, 2026, 253.3323, or 119.25% of initial level, on final valuation date, which is Feb. 23, 2027
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Agent: | Barclays
|
| Fees: | 4%
|
| Cusip: | 06747PBH1
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