Published on 10/20/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.35 million phoenix autocallable notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – Barclays Bank plc priced $2.35 million of phoenix autocallable notes due April 21, 2022 linked to the least performing of the Russell 2000 index, Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% 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 monthly call observation date after three months.
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: | Phoenix autocallable notes
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| Underlying indexes: | Russell 2000, Nasdaq-100 and Dow Jones industrial average
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| Amount: | $2,347,000
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| Maturity: | April 21, 2022
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| Coupon: | 8% 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 monthly call observation date after three months
|
| Initial level: | 11,898.57 for Nasdaq, 28,494.2 for Dow, 1,638.88 for Russell
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| Coupon barriers: | 8,329.0 for Nasdaq, 19,945.94 for Dow, 1,147.22 for Russell; 70% of initial levels
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| Final barriers: | 8,329.0 for Nasdaq, 19,945.94 for Dow, 1,147.22 for Russell; 70% of initial levels
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| Pricing date: | Oct. 15
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| Settlement date: | Oct. 20
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| Agent: | Barclays
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| Fees: | 2.175%
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| Cusip: | 06747QKX4
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