Published on 2/5/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.19 million phoenix autocallables linked to Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – Barclays Bank plc priced $2.19 million of phoenix autocallable notes due Jan. 29, 2027 linked to the lesser performing of the S&P 500 index and the Russell 2000 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 6% if each index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.
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 after one year other than the final date.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,186,000
|
| Maturity: | Jan. 29, 2027
|
| Coupon: | 6% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each index finishes at or above trigger level; otherwise, full exposure to decline of worse performing index
|
| Call: | After one year, at par plus contingent coupon if indexes close at or above initial levels on any quarterly observation date other than final one
|
| Initial levels: | 3,276.24 for S&P and 1,658.31 for Russell
|
| Coupon barriers: | 2,457.18 for S&P and 1,243.74 for Russell; 75% of initial levels
|
| Triggers: | 2,457.18 for S&P and 1,243.74 for Russell; 75% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747NYH1
|
|
|
© 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.
