Published on 5/2/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.97 million contingent income autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., May 2 – Barclays Bank plc priced $3.97 million of contingent income buffered autocallable securities due May 5, 2021 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if each index closes at or above its downside threshold level, 80% of its initial level, on the determination date for that quarter.
Beginning Oct. 30, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless either index finishes below its downside threshold level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income buffered autocallable securities
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $3,967,000
|
| Maturity: | May 5, 2021
|
| Coupon: | 8% per year, payable quarterly if each index closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below downside threshold level, in which case 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Beginning Oct. 30, automatically at par if each index closes at or above initial level on any quarterly determination date
|
| Initial levels: | 1,591.211 for Russell 2000 and 2,945.83 for S&P 500
|
| Downside thresholds: | 1,272.969 for Russell 2000 and 2,356.664 for S&P 500, or 80% of initial levels
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 06747MPC4
|
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