Published on 8/30/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.42 million 6% phoenix autocalls tied to S&P, Russell
By Susanna Moon
Chicago, Aug. 30 – Barclays Bank plc priced $1.42 million of phoenix autocallable notes due Aug. 27, 2026 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 monthly coupon at an annual rate of 6% if each underlying asset closes at or above its 75% coupon barrier on the observation date for that month.
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 after one year.
The payout at maturity will be par unless either underlying asset finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worse performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $1,416,000
|
| Maturity: | Aug. 27, 2026
|
| Coupon: | 6% annualized, payable monthly if each asset closes at or above 75% coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset finishes below 60% trigger, in which case 1% loss per 1% decline of the worse performing index
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any call valuation date beginning in August 2019
|
| Initial levels: | 2,874.69 for S&P, 1,725.67 for Russell
|
| Coupon barriers: | 2,156.02 for S&P, 1,294.25 for Russell, 75% of initial levels
|
| Trigger levels: | 1,724.81 for S&P, 1,035.40 for Russell, 60% of initial levels
|
| Pricing date: | Aug. 24
|
| Settlement date: | Aug. 31
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06746XMG5
|
|
|
|
|
© 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.
