Published on 8/13/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.45 million 8% phoenix autocalls tied to three funds
By Susanna Moon
Chicago, Aug. 13 – Barclays Bank plc priced $1.45 million of phoenix autocallable notes due Aug. 10, 2023 linked to the least performing of the SPDR S&P 500 ETF, iShares Russell and the SPDR Euro Stoxx 50 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 8% if each underlying asset closes at or above its 65% coupon barrier on the observation date for that period.
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.
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 fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | SPDR S&P 500 ETF, iShares Russell 2000 ETF and SPDR Euro Stoxx 50 ETF
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| Amount: | $1,445,000
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| Maturity: | Aug. 10, 2023
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| Coupon: | 8% annualized, payable semiannual if each asset closes at or above 65% coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below 60% trigger, in which case 1% loss per 1% decline of worst performing fund
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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 on second date
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| Initial levels: | $283.60 for S&P fund, $166.39 for Russell fund and $39.23 for Stoxx fund
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| Trigger levels: | $184.34 for S&P fund, $108.15 for Russell fund and $25.50 for Stoxx fund, 65% of initial levels
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| Trigger levels: | $170.16 for S&P fund, $99.83 for Russell fund and $23.54 for Stoxx fund, 60% of initial levels
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| Pricing date: | Aug. 3
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| Settlement date: | Aug. 10
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| Agent: | Barclays
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| Fees: | 1.13%
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| Cusip: | 06746XLV3
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