Published on 6/5/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $950,000 autocallable notes tied to Russell, S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, June 5 – Barclays Bank plc priced $950,000 of 0% autocallable notes due June 1, 2029 linked to the least performing index of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par plus 8.25% annualized premium if each index closes above its initial level on any of the first nine annual call dates or above 80% of the initial level on the 10th and final date.
If the notes are not called, the payout at maturity will be par unless any index finishes below its 65% barrier level, in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable notes
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| Underlying assets: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $950,000
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| Maturity: | June 1, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless final level of the least-performing underlying is less than 65% barrier level; otherwise, 1% loss for each 1% decline of the least-performing index
|
| Call: | At par plus 8.25% annualized premium if each index closes above initial level on any annual call date, other than the final call date when the call level will be 80% of initial level
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| Initial levels: | 25,126.41 for Dow, 1,489.95 for Russell, 2,783.02 for S&P
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| Barrier levels: | 16,332.17 for Dow, 968.47 for Russell, 1,808.96 for S&P, 65% of initial levels
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| Pricing date: | May 29
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| Settlement date: | June 3
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| Agent: | Barclays
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| Fees: | 3.85%
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| Cusip: | 06747MV29
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