Published on 2/28/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 8.4% rate phoenix autocalls on three indexes
By Susanna Moon
Chicago, Feb. 28 – Barclays Bank plc priced $1 million of phoenix autocallable notes due Feb. 12, 2021 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 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 8.4% if each index closes at or above its 70% 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 other than the final date.
The payout at maturity will be par unless any underlying index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the wors6 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, S&P 500 and Nasdaq-100
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| Amount: | $1 million
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| Maturity: | Feb. 12, 2021
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| Coupon: | 8.4% annualized, payable semiannually if each index closes at or above 70% 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 any index finishes below 70% trigger, in which case 1% loss per 1% decline of worst performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date other than final date
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| Call option: | At par on any interest payment date
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| Initial levels: | 1,507.97 for Russell, 2,681.66 for S&P and 6,582.02 for Nasdaq
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| Barrier levels: | 1,055.58 for Russell, 1,877.16 for S&P and 4,607.41 for Nasdaq; 70% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06744CWB3
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