Published on 7/23/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $421,000 of phoenix autocallable notes on index, ETF
By Marisa Wong
Morgantown, W.Va., July 23 – Barclays Bank plc priced $421,000 of phoenix autocallable notes due Jan. 6, 2020 linked to the least-performing of the S&P 500 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9% if each asset closes at or above the coupon barrier level – 70% of the initial level – on the related quarterly observation date.
The notes will be called at par plus the contingent coupon if each asset closes at or above the initial level on any observation date after six months.
The payout at maturity will be par plus the contingent coupon unless the least-performing asset finishes below its initial level and closes below the 70% knock-in level on any day during the life of the notes, in which case investors will lose 1% for each 1% decline of the least-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying assets: | S&P 500 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $421,000
|
| Maturity: | Jan. 6, 2020
|
| Coupon: | 9%, payable quarterly if each asset closes at or above coupon barrier on related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless least-performing asset finishes below initial level and ever closes below knock-in level, in which case 1% loss for each 1% decline of least-performing asset
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any observation date after six months
|
| Initial levels: | 2,718.37 for index, $43.33 for ETF
|
| Coupon barriers: | 1,902.86 for index, $30.33 for ETF; 70% of initial levels
|
| Knock-in levels: | 1,902.86 for index, $30.33 for ETF; 70% of initial levels
|
| Pricing date: | June 29
|
| Settlement date: | July 5
|
| Agents: | Barclays
|
| Fees: | 1.15%
|
| Cusip: | 06746XEJ8
|
|
|
© 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.
