Published on 8/19/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $991,000 contingent coupon autocallables on S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Aug. 19 – Barclays Bank plc priced $991,000 of autocallable contingent coupon notes due May 18, 2022 linked to the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 8% per annum if each index closes at or above its 70% coupon barrier level on the determination date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any determination date after three months other than the final one.
If the notes are not called, the payout at maturity will be par plus the coupon unless any index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
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| Amount: | $991,000
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| Maturity: | May 18, 2022
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| Contingent coupon: | Contingent monthly coupon of 8% if each component closes at or above coupon barrier level on the determination date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of worst-performing index
|
| Call option: | Automatically at par plus contingent coupon if each index closes at or above initial level on any determination date after three months other than final one
|
| Initial index levels: | 27,931.02 for Dow, 1,577.88 for Russell, 3,372.85 for S&P
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| Coupon barrier levels: | 19,551.71 for Dow, 1,104.52 for Russell, 2,361.0 for S&P; 70% of initial levels
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| Final barrier levels: | 19,551.71 for Dow, 1,104.52 for Russell, 2,361.0 for S&P; 70% of initial levels
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| Pricing date: | Aug. 14
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| Settlement date: | Aug. 19
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| Agent: | Barclays
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| Fees: | 2.125%
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| Cusip: | 06747QBW6
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