Published on 6/6/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.4 million 8.4% phoenix autocalls on fund, two indexes
By Susanna Moon
Chicago, June 6 – Barclays Bank plc priced $1.4 million of phoenix autocallable notes due May 30, 2025 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the iShares MSCI Japan ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.4% if each underlying asset closes at or above its 70% 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.
The payout at maturity will be par unless any underlying asset finishes below its 70% trigger level, in which case investors will be exposed to any losses of the worst performing index or fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying assets: | Euro Stoxx 50 index, Russell 2000 index and the iShares MSCI Japan ETF
|
| Amount: | $1.4 million
|
| Maturity: | May 30, 2025
|
| Coupon: | 8.4% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below 70% trigger, in which case 1% loss per 1% decline of the worst performing index or fund
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any call valuation date other than final date beginning on fourth date
|
| Initial levels: | 3,428.14 for Stoxx, 1,623.65 for Russell and $59.73 for fund
|
| Barrier levels: | 2,399.70 for Stoxx, 1,136.56 for Russell and $41.81 for fund, 70% of initial levels
|
| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Agent: | Barclays
|
| Fees: | 3.35%
|
| Cusip: | 06746XD26
|
|
|
|
|
© 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.
