Published on 5/4/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.27 million 8.5% phoenix autocalls on Stoxx, S&P, Russell
By Susanna Moon
Chicago, May 4 – Barclays Bank plc priced $1.27 million of phoenix autocallable notes due April 27, 2028 linked to the least performing of the Euro Stoxx 50 index, 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 8.5% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date other than the final date.
The payout at maturity will be par unless any underlying asset finishes below its 70% trigger level, in which case investors will be exposed to any losses of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | Euro Stoxx 50 index, S&P 500 index, Russell 2000 index
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| Amount: | $1,267,000
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| Maturity: | April 30, 2025
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| Coupon: | 8.5% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any asset finishes below 70% trigger, in which case 1% loss per 1% decline of the worst performing index
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any call valuation date other than final date beginning with fourth date
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| Initial levels: | 3,506.03 for Stoxx, 2,666.94 for S&P, 1,557.90 for Russell
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| Trigger levels: | 2,454.22 for Stoxx, 1,866.86 for S&P, 1,090.53 for Russell, 70% of initial levels
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| Pricing date: | April 26
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| Settlement date: | April 30
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| Agent: | Barclays
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| Fees: | 3.35%
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| Cusip: | 06746X6D0
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