Published on 4/23/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $603,000 annual autocallable notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, April 23 – Barclays Bank plc priced $603,000 of 0% annual autocallable notes due April 21, 2023 linked to the lesser performing index of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized call premium of 11.25% if each underlying closes at or above its initial level on any annual call valuation date.
If the notes are not called and the final level of the lesser-performing underlying is at least 60% of its initial level, the payout at maturity will be par plus 45%. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing underlying from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Annual autocallable notes
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Underlying assets: | S&P 500 index, SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $603,000
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Maturity: | April 21, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final level of the lesser-performing underlying is at least 60% of its initial level, par plus 45%; otherwise, 1% loss for each 1% decline of the lesser-performing underlying from its initial level
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Call: | At par plus an annualized call premium of 11.25% if each underlying closes at or above its initial level on any annual call valuation date
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Initial levels: | 2,905.03 for index, $31.81 for ETF
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Barrier levels: | 1,743.02 for index and $19.09 for ETF, 60% of initial levels
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Pricing date: | April 18
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Settlement date: | April 26
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Agent: | Barclays
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Fees: | 0.65%
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Cusip: | 06747MLV6
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