Published on 10/2/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.98 million buffered autocallable notes tied to Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Oct. 2 – Barclays Bank plc priced $3.98 million of buffered autocallable notes due Aug. 29, 2024 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon of 6.25% per year if each index closes at or above 60% of its initial level on the related payment date for that month.
The notes will be called at par if each index closes at or above its initial level on any quarterly call valuation date after one year.
The payout at maturity will be par unless either index falls by more than 20%, in which case investors will lose 1% for each 1% decline of the worse performing asset beyond 20% of initial levels.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable notes
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Underliers: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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Amount: | $3,975,000
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Maturity: | Aug. 29, 2024
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Coupon: | Notes will pay a quarterly contingent coupon of 6.25% per year if each index closes at or above 60% of its initial level on the related payment date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 20% of initial levels
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Call: | After one year, automatically at par if each underlier closes at or above initial level on any quarterly call determination date
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Initial levels: | 25,898.83 for Dow Jones, 7,575.02 for Nasdaq, 1,476.00 for Russell
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Coupon barrier levels: | 15,539.30 for Dow Jones, 4,545.01 for Nasdaq, 885.60 for Russell, 60% of initial levels
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Pricing date: | Aug. 26
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Settlement date: | Aug. 29
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06747ND43
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