Published on 2/21/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 9.1% phoenix autocallables on indexes, fund
By Sarah Lizee
Olympia, Wash., Feb. 21 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Feb. 23, 2024 linked to the least performing of the iShares MSCI Emerging Markets ETF, the Nasdaq-100 index and the S&P 500 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 9.1% if each underlying asset closes at or above its 65% 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 quarterly call valuation date after one year.
The payout at maturity will be par unless any underlying asset finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worst performing index or fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying assets: | iShares MSCI Emerging Markets ETF, the Nasdaq-100 index and S&P 500 index
|
| Amount: | $500,000
|
| Maturity: | Feb. 23, 2024
|
| Coupon: | 9.1% annualized, payable monthly if each asset closes at or above coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any asset finishes below trigger level, in which case 1% loss per 1% decline of the worst performing index or fund
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly call valuation date after one year
|
| Initial levels: | $42.42 for fund, 2,779.76 for S&P, 7,066.61 for Nasdaq
|
| Coupon barriers: | $27.57 for fund, 1,806.84 for S&P, 4,593.30 for Nasdaq, 65% of initial levels
|
| Trigger levels: | $25.45 for fund, 1,667.86 for S&P, 4,239.97 for Nasdaq, 60% of initial levels
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 22
|
| Agent: | Barclays
|
| Fees: | 0.75%
|
| Cusip: | 06747MEQ5
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