Published on 1/11/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 9.9% phoenix autocallables on indexes, fund
By Sarah Lizee
Olympia, Wash., Jan. 11 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Jan. 11, 2024 linked to the least performing of the SPDR Dow Jones Industrial Average ETF, the Nasdaq-100 index 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 9.9% 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 quarterly call valuation date.
The payout at maturity will be par unless any underlying asset finishes below its 50% 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: | SPDR Dow Jones Industrial Average ETF, Nasdaq-100 index, Russell 2000 index
|
| Amount: | $500,000
|
| Maturity: | Jan. 11, 2024
|
| Coupon: | 9.9% annualized, payable quarterly if each asset closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any asset finishes below trigger level, 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 quarterly call valuation date
|
| Initial levels: | $238.92 for fund, 6,600.69 for Nasdaq, 1,438.81 for Russell
|
| Coupon barriers: | $167.24 for fund, 4,620.48 for Nasdaq, 1,007.17 for Russell, 70% of initial levels
|
| Trigger levels: | $119.46 for fund, 3,300.35 for Nasdaq, 719.41 for Russell, 50% of initial levels
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 14
|
| Agent: | Barclays
|
| Fees: | 1.15%
|
| Cusip: | 06747MAQ9
|
© 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.
