By Wendy Van Sickle
Columbus, Ohio, Aug. 22 – Barclays Bank plc priced 0% daily autocallable bearish notes due March 8, 2022 based on the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be automatically called at par if, on any day during the life of the notes, the closing level of the underlier is less than the barrier value, which is 74.5% of the initial level.
If the final index level is greater than or equal to the initial level, the payout will be par.
If the final index level is less than the initial level, the payout will be par plus the absolute value of the return of the index.
Barclays is the underwriter, with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
Issuer: | Barclays Bank plc
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Issue: | Daily autocallable bearish notes
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Underlying index: | S&P 500 index
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Amount: | $1 million
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Maturity: | March 8, 2022
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Coupon: | 0%
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Price: | Par
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Call: | Automatically at par if, on any day during the life of the notes, the closing level of the underlier is less than the barrier value
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Payout at maturity: | Par if final index level is greater than or equal to initial level; otherwise, par plus absolute value of index return
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Initial value: | 2,888.68
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Buffer level: | 2,152.07, 74.5% of initial level
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Pricing date: | Aug. 16
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Settlement date: | Aug. 21
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Agent: | Barclays as underwriter, J.P. Morgan Securities LLC as placement agent
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Fees: | 1.75%
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Cusip: | 06747NDT8
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