Published on 10/17/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.12 million buffered autocallable notes tied to Dow, Nasdaq
By Taylor Fox
New York, Oct. 19 – Barclays Bank plc priced $6.12 million of buffered autocallable notes due Sept. 22, 2022 linked to the least 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 will pay a monthly contingent coupon of 6.5% per year if each index closes at or above its coupon barrier, 80% of its initial level, on the related observation date.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly call valuation date after six months.
The payout at maturity will be par plus any coupon unless either index falls by more than 15%, in which case investors will lose 1% for each 1% decline of the worse performing index beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable notes
|
| Underlying indexes: | Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $6,119,000
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| Maturity: | Sept. 22, 2022
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| Coupon: | 6.5% per year, payable monthly if each underlier closes at or above coupon barrier on determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless either underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 15%
|
| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any quarterly determination date after six months
|
| Initial levels: | 27,901.98 for Dow, 11,080.95 for Nasdaq
|
| Coupon barriers: | 22,321.58 for Dow, 8,864.76 for Nasdaq; 80% of initial levels
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| Buffer levels: | 23,716.68 for Dow, 9,418.81 for Nasdaq; 85% of initial levels
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| Pricing date: | Sept. 17
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| Settlement date: | Sept. 22
|
| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06747QHP5
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