Published on 2/5/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $16.32 million step-down trigger autocalls on Nasdaq, Russell
Chicago, Feb. 5 – Barclays Bank plc priced $16.32 million of 0% step-down trigger autocallable notes due Jan. 31, 2025 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 8% a year if each index closes at or above its initial level on an annual observation date or at or above its 75% trigger level on the final valuation date.
If the notes are not called, meaning that both underliers have finished below 75% of their initial levels, the payout at maturity will be par plus the return with full exposure to any losses of the worse performing index.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Step-down trigger autocallable notes
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Underlying indexes: | Nasdaq-100, Russell 2000
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Amount: | $16,320,900
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Maturity: | Jan. 31, 2025
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Coupon: | 0%
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Price: | Par of $10
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Call: | At par plus 8% annualized if each index closes at or above its call threshold level on any call observation date; call threshold is equal to initial index levels for every call observation date except for final date, when threshold will be 75% of initial levels
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Payout at maturity: | If notes are not called, full exposure to the decline of the worse performing index
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Initial levels: | 9,101.613 for Nasdaq and 1,649.221 for Russell
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Trigger levels: | 6,826.210 for Nasdaq, 1,236.916 for Russell; 75% of initial levels
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Pricing date: | Jan. 29
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Settlement date: | Jan. 31
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Underwriters: | UBS Financial Services Inc. and Barclays
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Fees: | 2.5%
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Cusip: | 06747F648
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