Published on 12/18/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $22.71 million contingent income autocallables linked to indexes
Chicago, Dec. 18 – Barclays Bank plc priced $22.71 million of contingent income autocallable securities due Dec. 2, 2021 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.25% per year if each index closes at or above its downside threshold level, 70% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date other than the final determination date.
The payout at maturity will be par unless any index finishes below its downside threshold level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
Barclays is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
|
| Amount: | $22,706,000
|
| Maturity: | Dec. 2, 2021
|
| Coupon: | 7.25% per year, payable quarterly if each index closes at or above downside threshold on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case exposure to decline of least-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any determination date other than final determination date
|
| Initial levels: | 8,403.685 for Nasdaq, 1,624.503 for Russell, 3,140.98 for S&P
|
| Downside thresholds: | 5,882.579 for Nasdaq, 1,137.152 for Russell and 2,198.686 for S&P, or 70% of initial levels
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 4
|
| Agent: | Barclays
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 06747NRV8
|
|
|
© 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.
