Published on 3/4/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.23 million contingent income autocalls on indexes
By Sarah Lizee
Olympia, Wash., March 4 – Barclays Bank plc priced $3.23 million of contingent income autocallable securities due Sept. 2, 2021 linked to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.4% if each index closes at or above the 80% coupon barrier level on each day that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any of the quarterly determination dates.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index.
Barclays is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000, Nasdaq-100 and S&P 500
|
| Amount: | $3.23 million
|
| Maturity: | Sept. 2, 2021
|
| Coupon: | 9.4% per year, payable quarterly if each index closes at or above the 80% coupon barrier level on each day that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if each index finishes at or above downside threshold level; otherwise, 1% loss for each 1% decline of worse performing index
|
| Call: | At par plus contingent payment if each index closes at or above initial level on quarterly determination dates
|
| Initial levels: | 7,097.525 for Nasdaq, 1,575.549 for Russell and 2,784.49 for S&P
|
| Coupon barriers: | 5,678.020 for Nasdaq, 1,260.439 for Russell and 2,227.592 for S&P, 80% of initial levels
|
| Downside thresholds: | 4,968.268 for Nasdaq, 1,102.884 for Russell and 1,949.143 for S&P, 70% of initial levels
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 5
|
| Agent: | Barclays
|
| Distributor: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06747MFJ0
|
© 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.
