Published on 8/5/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.03 million phoenix autocallable notes on three indexes
By Sarah Lizee
Olympia, Wash., Aug. 5 – Barclays Bank plc priced $1.03 million of phoenix autocallable notes July 31, 2029 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 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 7.5% if each index closes at or above its 75% coupon barrier on a related observation date.
After one year, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date other than the final date.
The payout at maturity will be par unless any index finishes below 75% of 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
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $1,034,000
|
| Maturity: | July 31, 2029
|
| Coupon: | 7.5% annualized, payable quarterly if each index closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below 75% of its initial value, in which case investors will be exposed to the decline of the worst performing index
|
| Call: | After one year, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date other than final date
|
| Initial level: | 3,025.86 for S&P, 1,578.97 for Russell, 8,016.95 for Nasdaq
|
| Coupon barrier: | 2,269.40 for S&P, 1,184.23 for Russell, 6,012.71 for Nasdaq; 75% of initial level
|
| Final barrier: | 2,269.40 for S&P, 1,184.23 for Russell, 6,012.71 for Nasdaq; 75% of initial level
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | Barclays
|
| Fees: | 4.5%
|
| Cusip: | 06747N5G5
|
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