Published on 1/23/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $955,000 5.65% rate phoenix autocalls tied to indexes
By Susanna Moon
Chicago, Jan. 23 – Barclays Bank plc priced $955,000 of phoenix autocallable notes due Jan. 23, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 5.65% if each index closes at or above its 80% coupon barrier on the observation date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any call observation date.
The payout at maturity will be par unless any index finishes below its 60% trigger level, in which case investors will be 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 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $955,000
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Maturity: | Jan. 23, 2023
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Coupon: | 5.65% annualized, payable semiannually if index closes at or above 80% coupon barrier on observation date for that period
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless index finishes below 60% trigger, in which case
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Call: | At par plus contingent coupon if index closes at or above initial level on any observation date other than final date
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Initial levels: | 2,798.03 for S&P, 1,576.73 for Russell and 26,017.81 for Dow
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Coupon barriers: | 2,238.42 for S&P, 1,261.38 for Russell and 20,814.25 for Dow, 80% of initial level
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Trigger levels: | 1,678.82 for S&P, 946.04 for Russell and 15,610.69 for Dow, 60% of initial level
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Pricing date: | Jan. 18
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Settlement date: | Jan. 23
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Agent: | Barclays
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Fees: | 4.075%
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Cusip: | 06744CSR3
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