Published on 7/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $744,000 phoenix autocallable notes on three indexes
By Kiku Steinfeld
Chicago, July 30 – Barclays Bank plc priced $744,000 of phoenix autocallable notes due July 19, 2029 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.65% if each index closes at or above its 65% coupon barrier on a related quarterly observation date.
After one year, 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.
The payout at maturity will be par unless any index falls by more than 35%, in which case investors will be exposed to the decline 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 indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $744,000
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| Maturity: | July 19, 2029
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| Coupon: | 5.65% annualized, payable quarterly if each index closes at or above coupon barrier on related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus any contingent coupon, unless any index falls by more than 35%, in which case investors will be exposed to the decline of the worst performing index
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| Call: | After one year, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
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| Initial levels: | 3,014.30 for S&P, 1,561.82 for Russell and 27,359.16 for Dow
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| Coupon barriers: | 1,959.30 for S&P, 1,015.18 for Russell, 17,783.45 for Dow; 65%of initial level
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| Final barriers: | 1,959.30 for S&P, 1,015.18 for Russell, 17,783.45 for Dow; 65%of initial level
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| Pricing date: | July 15
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| Settlement date: | July 18
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| Agent: | Barclays
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| Fees: | 4.5%
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| Cusip: | 06747N6B5
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