Published on 2/16/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $580,000 autocallable notes tied to Stoxx, two ETFs
By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – Barclays Bank plc priced $580,000 of 0% autocallable notes due Nov. 15, 2021 linked to the lesser performing index of the Euro Stoxx index, the Financial Select Sector SPDR Fund and the SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
After six months, the notes will be automatically called at par plus an annualized call premium of 10.8% if each underlying closes at or above its initial level on any quarterly call valuation date.
If the notes are not called and the final level of the least-performing underlying is at least 70% of its initial level, the payout at maturity will be par plus the digital percentage of 10%. Otherwise, investors will lose 1% for each 1% decline of the least-performing underlying from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Autocallable notes
|
Underlying assets: | Euro Stoxx 50 index, Financial Select Sector SPDR Fund and SPDR S&P MidCap 400 ETF Trust
|
Amount: | $580,000
|
Maturity: | Nov. 15, 2021
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If the final level of the least-performing underlying is at least 70% of its initial level, par plus 10%; otherwise, 1% loss for each 1% decline of the least-performing underlying from its initial level
|
Call: | After six months, at par plus an annualized call premium of 10.8% if each underlying closes at or above its initial level on any quarterly call valuation date
|
Initial levels: | 3,325.99 for index and $27.68 for Financial fund, $331.03 for MidCap ETF
|
Barrier levels: | 2,328.193 for index and $19.38 for Financial fund, $231.72 for MidCap ETF, 70% of initial levels
|
Pricing date: | Feb. 9
|
Settlement date: | Feb. 14
|
Agent: | Barclays
|
Fees: | 2.95%
|
Cusip: | 06744CVU2
|
|
© 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.