Published on 7/14/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $528,000 phoenix autocallable notes on three indexes
By Kiku Steinfeld
Chicago, July 15 – Barclays Bank plc priced $528,000 of phoenix autocallable notes due Dec. 31, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.5% if each index closes at or above its 70% coupon barrier on a related monthly observation date.
After six months, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly observation date other than the final date.
The payout at maturity will be par unless any index falls by more than 30% during the life of the notes and closes below its initial value, in which case investors will be exposed to the decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $528,000
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| Maturity: | Dec. 31, 2020
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| Coupon: | 8.5% annualized, payable monthly if each index closes at or above coupon barrier on related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par plus any contingent coupon, unless any index falls by more than 30% during the life of the notes and closes below its initial value, in which case investors will be exposed to the decline of the worst performing index
|
| Call: | After six months, at par plus contingent coupon if each index closes at or above initial level on any monthly observation date other than final date
|
| Initial level: | 2,941.76 for S&P, 1,566.57 for Russell, 26,599.96 for Dow
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| Coupon barrier: | 2,059.23 for S&P, 1,096.60 for Russell, 18,619.97 for Dow; 70% of initial level
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| Final barrier: | 2,059.23 for S&P, 1,096.60 for Russell, 18,619.97 for Dow; 70% of initial level
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| Pricing date: | June 28
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| Settlement date: | June 3
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| Agent: | Barclays
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| Fees: | 0.675%
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| Cusip: | 06747MWN2
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