Published on 8/7/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $781,000 autocallable notes on Nasdaq, Dow, S&P
By Wendy Van Sickle
Columbus, Ohio, Aug. 7 – Barclays Bank plc priced $781,000 of 0% autocallable notes due July 31, 2023 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 6.5% annualized premium if each index closes at or above its initial level on any semiannual call observation date after one year.
The payout at maturity will be par unless any index finishes below 70% of its initial value, in which case investors will be fully exposed to the decline of the least performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underlying indexes: | S&P 500, Dow Jones industrial average, Nasdaq-100
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Amount: | $781,000
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Maturity: | July 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless any index finishes below final barrier, in which case investors will be fully exposed to the decline of the worst performing index
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Call: | At par plus 6.5% annualized if each index closes at or above initial level on any semiannual call observation date after one year
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Initial level: | 3,218.44 for S&P, 10,532.5 for Nasdaq, 26,379.28 for Dow
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Barriers: | 2,252.91 for S&P, 7,372.75 for Nasdaq, 18,465.5 for Dow; 70% of initial levels
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | Barclays
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Fees: | 2.8%
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Cusip: | 06747QAV9
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