Published on 3/2/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $378,000 phoenix autocallable notes on indexes, ETF
By Sarah Lizee
Olympia, Wash., March 2 – Barclays Bank plc priced $378,000 of phoenix autocallable notes Feb. 27, 2025 linked to the least performing of the Nasdaq-100 index, the iShares MSCI Emerging Markets ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.75% if each asset 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 asset closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the coupon, if any, unless any asset finishes below 60% of its initial value, in which case investors will be fully exposed to the decline of the least performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | Nasdaq-100 index, iShares MSCI Emerging Markets ETF and Russell 2000 index
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| Amount: | $378,000
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| Maturity: | Feb. 27, 2025
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| Coupon: | 7.75% annualized, payable quarterly if each asset closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon unless any asset finishes below final barrier, in which case investors will be fully exposed to the decline of the worst performing asset
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly observation date after one year
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| Initial level: | 9,079.63 for Nasdaq, $41.67 for ETF, 1,628.10 for Russell
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| Coupon barriers: | 6,355.74 for Nasdaq, $29.17 for ETF, 1,139.67 for Russell; 70% of initial levels
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| Final barriers: | 5,447.78 for Nasdaq, $25.00 for ETF, 976.86 for Russell; 60% of initial levels
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| Pricing date: | Feb. 24
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| Settlement date: | Feb. 27
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| Agent: | Barclays
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| Fees: | 0.25%
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| Cusip: | 06747PD22
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