Published on 1/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.19 million phoenix autocallables tied to Dow, Nasdaq
By Sarah Lizee
Olympia, Wash., Jan. 30 – Barclays Bank plc priced $1.19 million of phoenix autocallable notes due Jan. 31, 2020 linked to the lesser performing of the Nasdaq-100 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 11.5% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning with the second observation date.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon unless either index finishes below its 75% barrier level, in which case investors will lose 1% for every 1% that the lesser-performing index declines.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | Nasdaq-100 and Dow Jones Industrial Average
|
| Amount: | $1.19 million
|
| Maturity: | Jan. 31, 2020
|
| Coupon: | 11.5% per year payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent coupon unless either index finishes below barrier, in which case 1% loss for every 1% that lesser-performing index finishes below the barrier level
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date beginning with the second date
|
| Initial index levels: | 6,697.09 for Nasdaq-100 and 24,528.22 for Dow Jones
|
| Coupon barrier levels: | 5,022.82 for Nasdaq-100 and 18,396.17 for Dow Jones; 75% of initial levels
|
| Final barrier levels: | 5,022.82 for Nasdaq-100 and 18,396.17 for Dow Jones; 75% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | Barclays
|
| Fees: | 2.1%
|
| Cusip: | 06747M7F7
|
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