Published on 4/15/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.74 million phoenix autocallable notes on indexes
By Sarah Lizee
Olympia, Wash., April 15 – Barclays Bank plc priced $2.74 million of phoenix autocallable notes due April 16, 2029 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarter coupon at an annual rate of 6.15% if each underlying asset closes at or above its 60% 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 after one year.
The payout at maturity will be par unless either underlying asset falls by up to 40%, in which case investors will be exposed to any losses of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying assets: | Nasdaq-100 index, S&P 500 index, Russell 2000 index
|
| Amount: | $2.74 million
|
| Maturity: | April 16, 2029
|
| Coupon: | 6.15% 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 either asset finishes below barrier, in which case 1% loss per 1% decline of the worst performing index
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly valuation date other than final date after one year
|
| Initial levels: | 2,888.32 for S&P, 1,579.14 for Russell, 7,594.89 for Nasdaq
|
| Barrier levels: | 1,732.99 for S&P, 947.48 for Russell, 4,556.93 for Nasdaq; 60% of initial levels
|
| Pricing date: | April 11
|
| Settlement date: | April 16
|
| Agent: | Barclays
|
| Fees: | 4.5%
|
| Cusip: | 06747MN69
|
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