Published on 4/2/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.09 million phoenix autocallable notes on indexes
By Sarah Lizee
Olympia, Wash., April 2 – Barclays Bank plc priced $3.09 million of phoenix autocallable notes due March 29, 2030 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if each index closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless any index finishes below 60% 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
|
| Issue: | Phoenix autocallable notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000, Nasdaq-100
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| Amount: | $3,086,000
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| Maturity: | March 29, 2030
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| Coupon: | 10% annualized, payable monthly if each index closes at or above coupon barrier on related observation date
|
| 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
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date after one year
|
| Initial level: | 7,897.13 for Nasdaq, 1,180.13 for Russell, 22,552.17 for Dow
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| Coupon barriers: | 5,527.99 for Nasdaq, 826.09 for Russell, 15,786.52 for Dow; 70% of initial levels
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| Final barriers: | 4,738.28 for Nasdaq, 708.08 for Russell, 13,531.30 for Dow; 60% of initial levels
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| Pricing date: | March 26
|
| Settlement date: | March 31
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| Agent: | Barclays
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| Fees: | 4%
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| Cusip: | 06747PH69
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