Published on 12/26/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.66 million annual autocalls on S&P, Oil & Gas ETF
By Devika Patel
Knoxville, Tenn., Dec. 26 – Barclays Bank plc priced $1.66 million of 0% annual autocallable notes due Dec. 27, 2022 linked to the lesser performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 11.25% per year if each underlying closes at or above its initial level on any of the three annual call valuation dates or closes above the barrier level, 60% of its initial level, on the final valuation date.
If the notes are not called, then the final level of the lesser-performing underlying is less than its barrier level and investors will be fully exposed to the decline of the lesser-performing underlying from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual autocallable notes
|
| Underlying assets: | S&P 500 index and SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
|
| Amount: | $1.66 million
|
| Maturity: | Dec. 27, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of lesser-performing underlying is greater than or equal to barrier level, notes will be called; otherwise, full exposure to decline of lesser-performing underlying from initial level
|
| Call: | Automatically at par plus 11.25% per year if each underlying closes at or above its initial level on Dec. 23, 2019, Dec. 21, 2020 or Dec. 21, 2021 or closes above barrier level on Dec. 21, 2022
|
| Initial index levels: | 2,416.62 for index and $25.35 for ETF
|
| Barrier levels: | 1,449.97 for index and $15.21 for ETF; 60% of initial levels
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 31
|
| Agent: | Barclays
|
| Fees: | 0.65%
|
| Cusip: | 06747M3L8
|
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