Published on 2/5/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $217,000 autocallable notes tied to Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – Barclays Bank plc priced $217,000 of autocallable notes due Jan. 26, 2021 linked to the least performing index of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 6.25% if each index closes above its initial level on the observation date for that period.
The notes will be automatically called at par plus if each index closes above its initial level on any observation date after six months.
If the notes are not called, the payout at maturity will be par unless either index finishes below its initial level end either index has ever closed below its 75% barrier level during the life of the notes, in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
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| Underlying assets: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $217,000
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| Maturity: | Jan. 26, 2021
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| Coupon: | 6.25%, payable quarterly if each index closes above 75% of initial level on observation date
|
| Price: | Par
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| Payout at maturity: | If notes are not called, par unless final level of the least-performing underlying is less than its initial level and either index has ever closed below 75% barrier level, in which case, 1% loss for each 1% decline of the least-performing index
|
| Call: | After one year at par if each index closes above its initial level on any observation date after six months
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| Initial levels: | 1,658.31 for Russell, 9,090.93 for Nasdaq
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| Barriers: | 1,243.74 for Russell, 6,818.2 for Nasdaq, 75% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Jan. 31
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| Agent: | Barclays
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| Fees: | 2.1%
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| Cusip: | 06747NXW9
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