Published on 2/3/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.13 million autocallable notes tied to Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Feb. 3 – Barclays Bank plc priced $1.13 million of 0% autocallable notes due Jan. 31, 2024 linked to the least performing index of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annual premium of 9.3% if each index closes above its initial level on any annual observation date.
If the notes are not called, the payout at maturity will be par unless either index finishes below its 75% 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
|
Issue: | Autocallable notes
|
Underlying assets: | Russell 2000 index, S&P 500 index
|
Amount: | $1.13 million
|
Maturity: | Jan. 31, 2024
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If notes are not called, par unless final level of the least-performing underlying is less than 75% barrier level; otherwise, 1% loss for each 1% decline of the least-performing index
|
Call: | After one year at par plus annual premium of 9.3% if each index closes above initial level on any annual observation date
|
Initial levels: | 1,644.14 for Russell, 3,234.63 for S&P
|
Barriers: | 1,233.1 for Russell, 2,432.72 for S&P, 75% of initial levels
|
Pricing date: | Jan. 27
|
Settlement date: | Jan. 30
|
Agent: | Barclays
|
Fees: | 1.6%
|
Cusip: | 06747P3B3
|
|
© 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.