Published on 2/3/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.76 million contingent income autocallables on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 3 – Barclays Bank plc priced $5.76 million of contingent income autocallable securities due Jan. 30, 2020 linked to the worse performing of the Nasdaq-100 index, 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 quarterly coupon at an annualized rate of at 7.85% if each index closes at or above its downside threshold level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly interest payment date other than the final date.
The payout at maturity will be par plus the final contingent coupon unless any index finishes below the 70% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Nasdaq-100, S&P 500, Russell 2000
|
| Amount: | $5,757,000
|
| Maturity: | Jan. 30, 2020
|
| Coupon: | 7.85% annualized, payable quarterly if each index closes at or above its downside threshold on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final level of each index is greater than or equal to downside threshold level, par; otherwise, full exposure to decline of worst performing index
|
| Call: | At par plus the contingent coupon if each index closes at or above its initial level on any quarterly payment date other than the final date
|
| Initial index levels: | 5,168.061 for Nikkei, 2,294.69 for S&P, 1,370.704 for Russell
|
| Downside thresholds: | 3,617.643 for Nikkei, 1,606.283 for S&P, 959.493 for Russell; 70% of initial levels
|
| Pricing date: | Jan. 27
|
| Settlement date: | Feb. 1
|
| Agent: | Barclays with Morgan Stanley Wealth Management as dealer
|
| Fees: | 2.5%
|
| Cusip: | 06741VHR6
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
