Published on 10/2/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.1 million contingent coupon autocallables on Dow, Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – Barclays Bank plc priced $2.1 million of autocallable contingent coupon notes due March 30, 2022 linked to the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 7.5% per annum if each index closes at or above its 70% coupon barrier level on the determination date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any determination date other than the final one.
If the notes are not called, the payout at maturity will be par plus the coupon unless any index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Autocallable contingent coupon notes
|
Underlying indexes: | Dow Jones industrial average, S&P 500 index and Nasdaq-100 index
|
Amount: | $2.1 million
|
Maturity: | March 30, 2022
|
Contingent coupon: | Contingent quarterly coupon of 7.5% if each component closes at or above coupon barrier level on the determination date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of worst-performing index
|
Call option: | Automatically at par plus contingent coupon if each index closes at or above initial level on any determination date other than final one
|
Initial index levels: | 11,151.13 for Nasdaq, 3,298.46 for S&P, 27,173.96 for Dow
|
Coupon barrier levels: | 7,805.79 for Nasdaq, 2,308.92 for S&P, 19,021.77 for Dow; 70% of initial levels
|
Final barrier levels: | 7,805.79 for Nasdaq, 2,308.92 for S&P, 19,021.77 for Dow; 70% of initial levels
|
Pricing date: | Sept. 25
|
Settlement date: | Sept. 30
|
Agent: | Barclays
|
Fees: | 2.1%
|
Cusip: | 06747QJU2
|
|
© 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.