Published on 9/25/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.58 million annual autocallables tied to S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Sept. 25 – Barclays Bank plc priced $3.58 million of 0% annual autocallable notes due Sept. 25, 2023 linked to 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 be called at par plus an annual call return of 10.6% if each index closes at or above its call level on an annual observation date. The call level will be 100% of the initial level on the first observation date, stepping down by 5% on each subsequent observation date.
If the notes are not called, the payout at maturity will be par if the least performing index falls by up to 30% plus and par plus the return of the worst performing index with full exposure to any losses otherwise.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual autocallable notes
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| Underlying indexes: | Nasdaq-100, Russell 2000, S&P 500
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| Amount: | $3,583,000
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| Maturity: | Sept. 25, 2023
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 10.6% annualized if each index closes at or above call threshold level on any call observation date; call threshold is 100% of initial level on first observation date, stepping down by 5% on each subsequent observation date
|
| Payout at maturity: | Par if least performing index falls by up to 30% plus and par plus return of worst performing index with full exposure to any losses otherwise
|
| Initial levels: | 7,569.04 for Nasdaq, 1,720.18 for Russell, 2,903.75 for S&P
|
| Barrier levels: | 5,298.33 for Nasdaq, 1,204.13 for Russell, 2,051.53 for S&P; 70% of initial levels
|
| Pricing date: | Sept. 20
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| Settlement date: | Sept. 25
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| Underwriter: | Barclays
|
| Fees: | 0.75%
|
| Cusip: | 06746XQQ9
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