Published on 4/19/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $702,000 of 7.75% phoenix autocalls tied to Dow, Russell
By Susanna Moon
Chicago, April 19 – Barclays Bank plc priced $702,000 of phoenix autocallable notes due April 12, 2023 linked to the least performing of the Dow Jones Industrial Average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.75% if each underlying asset closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date other than the final date.
The payout at maturity will be par unless either underlying asset finishes below its 80% trigger level, in which case investors will be exposed to any losses of the worse performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying assets: | Dow Jones Industrial Average, Russell 2000 index
|
| Amount: | $702,000
|
| Maturity: | April 18, 2023
|
| Coupon: | 7.75% annualized, payable quarterly if each asset closes at or above 80% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless either asset finishes below 80% trigger, in which case 1% loss per 1% decline of the worse performing index
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any call valuation date other than final date
|
| Call option: | At par on any interest payment date
|
| Initial levels: | 24,360.14 for Dow, 1,549.51 for Russell
|
| Trigger levels: | 19,488.11 for Dow, 1,239.61 for Russell, 80% of initial levels
|
| Pricing date: | April 13
|
| Settlement date: | April 18
|
| Agent: | Barclays
|
| Fees: | 4.1%
|
| Cusip: | 06746X5R0
|
|
|
|
|
© 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.
