Published on 7/2/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $6.72 million contingent coupon autocalls on Dow, Nasdaq
By Sarah Lizee
Olympia, Wash., July 2 – Barclays Bank plc priced $6.72 million of autocallable notes due June 27, 2024 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annual rate of 6.1% if each index closes at or above its 80% coupon barrier on the observation date for that month.
The notes will be called at par if each asset closes at or above its initial level on any monthly call valuation date after one year.
If the notes are not called, the payout at maturity will be par unless either underlying asset finishes below its 80% buffer level, in which case investors will be exposed to any losses of the worse performing index beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
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| Underlying assets: | Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $6,721,000
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| Maturity: | June 27, 2024
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| Coupon: | 6.1% annualized, payable monthly if each index closes at or above its 80% coupon barrier on observation date for that month
|
| Price: | Par
|
| Call: | At par if each asset closes at or above its initial level on any monthly call valuation date after one year
|
| Payout at maturity: | Par unless either underlying asset finishes below its 80% buffer level, in which case investors will be exposed to any losses of the worse performing index beyond 20%
|
| Initial levels: | 25,445.94 for Dow, 10,002.70 for Nasdaq
|
| Buffer levels: | 20,356.75 for Dow, 8,002.16 for Nasdaq, 80% of initial levels
|
| Pricing date: | June 24
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| Settlement date: | June 29
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747PZS1
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