Published on 2/21/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.4 million annual autocallables linked to three indexes
By Angela McDaniels
Tacoma, Wash., Feb. 21 – Barclays Bank plc priced $4.4 million of 0% annual autocallable notes due Feb. 23, 2024 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 10.55% per year if each index closes at or above its call barrier level on any annual call valuation date. For each index, the call barrier level will equal (a) 100% of that index’s initial level minus (b) 5% multiplied by (n -1), where n equals the number of call valuation dates that have occurred.
If the notes are not called and the least-performing index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index declines from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual autocallable notes
|
| Underlying indexes: | S&P 500, Dow Jones industrial average and Nasdaq-100
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| Amount: | $4.4 million
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| Maturity: | Feb. 23, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and least-performing index finishes at or above barrier level, par; otherwise, 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Automatically at par plus call premium of 10.55% per year if each index closes at or above call barrier level on any annual call valuation date
|
| Initial levels: | 2,779.76 for S&P 500, 25,891.32 for Dow and 7,066.61 for Nasdaq-100
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| Barrier levels: | 1,945.83 for S&P 500, 18,123.92 for Dow and 4,946.63 for Nasdaq-100; 70% of initial levels
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| Call barrier levels: | (a) 100% of index’s initial level minus (b) 5% multiplied by (n -1), where n equals number of call valuation dates that have occurred
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| Pricing date: | Feb. 19
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| Settlement date: | Feb. 22
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| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06747MER3
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