Published on 4/29/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $9.35 million phoenix autocallables on S&P, Russell, Eurozone ETF
By Marisa Wong
Morgantown, W.Va., April 29 – Barclays Bank plc sold $9.35 million of phoenix autocallable notes due April 14, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI Eurozone exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.6% 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 quarterly call valuation date.
The payout at maturity will be par unless any underlying asset falls by more than 20%, in which case investors will be exposed to any losses of the worst performing asset.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying assets: | S&P 500 index, Russell 2000 index, iShares MSCI Eurozone ETF
|
Amount: | $9,349,000
|
Maturity: | April 14, 2021
|
Coupon: | 9.6% annualized, payable each quarter that 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 barrier value, in which case 1% loss per 1% decline of the worst performing asset
|
Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly valuation date
|
Initial values: | $39.50 for ETF, 2,878.20 for S&P, 1,559.68 for Russell
|
Coupon barriers: | $31.60 for ETF, 2,302.56 for S&P, 1,247.74 for Russell; 80% of initial values
|
Barrier values: | $31.60 for ETF, 2,302.56 for S&P, 1,247.74 for Russell; 80% of initial values
|
Pricing date: | April 9
|
Settlement date: | April 16
|
Agent: | Barclays
|
Fees: | 1.75%
|
Cusip: | 06747MNK8
|
|
© 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.