Published on 7/16/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $7.75 million of phoenix autocallable notes on indexes, ETF
By Sarah Lizee
Olympia, Wash., July 16 – Barclays Bank plc priced $7.75 million of phoenix autocallable notes due July 15, 2021 linked to the least-performing of the Russell 2000 index, the S&P 500 index and the iShares MSCI Eurozone exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.35% if each asset closes at or above the coupon barrier level – 80% of the initial price – on the observation date.
The notes will be called at par plus the contingent coupon if each asset closes at or above the initial price on any observation date.
The payout at maturity will be par plus the contingent coupon unless the least-performing asset finishes below its 80% knock-in level, in which case investors will lose 1% for each 1% decline of the least-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying assets: | Russell 2000 index, S&P 500 index and iShares MSCI Eurozone exchange-traded fund
|
| Amount: | $7,746,000
|
| Maturity: | July 15, 2021
|
| Coupon: | 9.35%, payable quarterly if each fund closes at or above barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless least-performing asset finishes below knock-in level, in which case 1% loss for each 1% decline of least-performing fund
|
| Call: | Automatically at par plus contingent coupon if each fund closes at or above initial price on any observation date
|
| Initial levels: | 3,013.77 for S&P, 1,570.00 for Russell, $39.52 for ETF
|
| Coupon barrier levels: | 2,411.02 for S&P, 1,256.00 for Russell, $31.62 for ETF; 80% of initial levels
|
| Knock-in levels: | 2,411.02 for S&P, 1,256.00 for Russell, $31.62 for ETF; 80% of initial levels Pricing date: | July 12
|
| Settlement date: | July 19
|
| Agents: | Barclays
|
| Fees: | 1.75%Cusip: | 06747N6C3
|
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