Published on 4/20/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1 million phoenix autocallables tied to Russell 2000
By Wendy Van Sickle
Columbus, Ohio, April 20 – Barclays Bank plc priced $1 million of phoenix autocallable notes due April 20, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 9.75% if the index closes at or above its coupon barrier, 81% of its initial level, on the observation date for that period.
The notes will be called at par if the index closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the index finishes below its 75% trigger level, in which case investors will lose 1% for each 1% decline.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying index: | Russell 2000
|
Amount: | $1 million
|
Maturity: | April 20, 2022
|
Coupon: | 9.75%, payable semiannually if index closes at or above its coupon barrier on observation date for that period
|
Price: | Par
|
Payout at maturity: | Par unless index finishes below its trigger level, in which case investors will lose 1% for each 1% decline
|
Call: | At par if index closes at or above its initial level on any determination date other than the final date
|
Initial level: | 1,361.18
|
Coupon barrier: | 1,102.56, 81% of initial level
|
Trigger level: | 1,020.89, 75% of initial level
|
Pricing date: | April 17
|
Settlement date: | April 20
|
Agent: | Barclays
|
Fees: | None
|
Cusip: | 06741VS45
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.