Published on 1/20/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $781,000 phoenix autocallables tied to Dow, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Jan. 20 – Barclays Bank plc priced $781,000 of phoenix autocallable notes due Dec. 20, 2023 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 6.8% if each underlying index closes at or above its 65% coupon barrier on the observation date for that period.
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 call valuation date.
The payout at maturity will be par plus the coupon unless any index finishes below its 65% barrier level, in which case investors will be fully exposed to the loss of the least performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $781,000
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| Maturity: | Dec. 20, 2023
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| Coupon: | 6.8% annualized, payable each month that each index closes at or above coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon, if any, unless any index finishes below barrier level, in which case 1% loss per 1% decline of the worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any monthly valuation date after six months
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| Initial levels: | 9,035.67 for Nasdaq, 29,030.22 for Dow, 1,682.40 for Russell
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| Coupon barriers: | 5,873.18 for Nasdaq, 18,869.64 for Dow, 1,093.56 for Russell; 65% of initial levels
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| Barrier levels: | 5,873.18 for Nasdaq, 18,869.64 for Dow, 1,093.56 for Russell; 65% of initial levels
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
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| Agent: | Barclays
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| Fees: | 0.4%
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| Cusip: | 06747P2C2
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