New Issue: Barclays prices $3.55 million daily autocallable bearish notes due 2022 tied to S&P

By Wendy Van Sickle

Columbus, Ohio, Sept. 18 – Barclays Bank plc priced $3.55 million 0% daily autocallable bearish notes due Aug. 18, 2021 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 75% of the initial level.

If the final index level is greater than or equal to the initial level, the payout will be par plus 2%.

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
Issue:	Daily autocallable bearish notes
Underlying index:	S&P 500 index
Amount:	$3,545,000
Maturity:	Aug. 18, 2021
Coupon:	0%
Price:	Par
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
Payout at maturity:	Par plus 2% if final index level is greater than or equal to initial level; otherwise, par plus absolute value of index return
Initial value:	3,007.39
Buffer level:	2,255.54, 75% of initial level
Pricing date:	Sept. 13
Settlement date:	Sept. 18
Agent:	Barclays as underwriter, J.P. Morgan Securities LLC as placement agent
Fees:	0%
Cusip:	06747NGH1

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.