Published on 1/28/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.94 million phoenix autocallable notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Jan. 28 – Barclays Bank plc priced $1.94 million of phoenix autocallable notes due Jan. 29, 2025 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 8.25% if each underlying asset closes at or above its coupon barrier level, 70% of its initial price, on the observation date for that period.
The notes will be called at par plus any coupon due if each asset closes above its initial level on any observation date after six months other than the final one.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the least-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 Emerging Markets ETF
|
Amount: | $1,941,000
|
Maturity: | Jan. 29, 2025
|
Contingent coupon: | 8.25% per year, payable monthly if each underlying asset closes at or above coupon barrier level observation date for that period
|
Price: | Par
|
Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
|
Call: | At par plus any coupon due if each asset closes above initial level on any observation date after six months other than final one
|
Initial levels: | 3,295.47 for S&P, 1,662.23 for Russell, $44.60 for ETF
|
Coupon barriers: | 2,306.83 for S&P, 1,163.56 for Russell, $31.22 for ETF, 70% of initial levels
|
Barriers: | 1,977.28 for S&P, 977.34 for Russell, $22.76 for ETF, 60% of initial levels
|
Pricing date: | Jan. 24
|
Settlement date: | Jan. 29
|
Agent: | Barclays
|
Fees: | 0.75%
|
|
Cusip: | 06747P3N7
|
|
© 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.