Published on 8/10/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $548,000 8.5% autocallable fixed-coupon notes on Nasdaq, Dow
By Wendy Van Sickle
Columbus, Ohio, Aug. 10 – Barclays Bank plc priced $548,000 of autocallable fixed-coupon notes due April 30, 2021 linked to the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 8.5% per year and will be payable monthly.
The notes will be automatically called at par if each index closes at or above its initial level on any monthly valuation date after six months.
If the notes are not called, the payout at maturity will be par unless either index finishes below its barrier level, 75% of its initial level, in which case the payout will be par minus 1% for every 1% that the lesser-performing index declines from its initial level.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable fixed-coupon notes
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Underlying indexes: | Nasdaq-100 index and Dow Jones industrial average
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Amount: | $548,000
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Maturity: | April 30, 2021
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Coupon: | 8.5%, payable monthly
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Price: | Par
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Call: | At par if each index closes at or above initial level on valuation date after six months
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Payout at maturity: | Par unless either index finishes below barrier level, in which case par minus 1% for every 1% that lesser-performing index declines from initial level
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Initial levels: | 10,905.88 for Nasdaq and 26,428.32 for Dow
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Barrier levels: | 8,179.41 for Nasdaq and 19,821.24 for Dow; 75% of initial levels
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Pricing date: | July 31
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Settlement date: | Aug. 5
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Agent: | Barclays
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Fees: | 0.7%
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Cusip: | 06747Q6A0
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