Published on 8/18/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.15 million phoenix autocallables on S&P 500, Russell, Nasdaq
By Tali Rackner
Norfolk, Va., Aug. 18 – Barclays Bank plc priced $1.15 million of phoenix autocallable notes due Aug. 19, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent month coupon at an annual rate of 6.25% if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly observation date beginning in February 2017.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 60% barrier level, in which case investors will fully exposed to any losses of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying indexes: | S&P 500, Russell 2000 and Nasdaq-100
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| Amount: | $1.15 million
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| Maturity: | Aug. 19, 2019
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| Coupon: | 6.25%, payable monthly if each index closes at or above coupon barrier level on observation date for that month
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| Price: | Par of $1,000
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any monthly observation date beginning in February 2017
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| Payout at maturity: | Par plus final contingent coupon unless any index finishes below 60% barrier, in which case full exposure to any losses of worst performing index
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| Initial levels: | 2,178.15 for S&P, 1,231.13 for Russell and 4,797.19 for Nasdaq-100
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| Coupon barrier levels: | 1,415.80 for S&P, 800.23 for Russell and 3,118.17 for Nasdaq-100; 65% of initial levels
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| Barrier levels: | 1,306.89 for S&P, 738.68 for Russell and 2,878.31 for Nasdaq-100; 60% of initial levels
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| Pricing date: | Aug. 17
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| Settlement date: | Aug. 19
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06741VAB8
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