Published on 10/31/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.27 million phoenix autocallables tied to Dow ETF, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – Barclays Bank plc priced $5.27 million of phoenix autocallable notes due Oct. 28, 2021 linked to the least performing of the SPDR Dow Jones industrial average ETF, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 9.35% if each underlying asset closes at or above its 75% 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 quarterly call valuation date.
The payout at maturity will be par unless any asset finishes below its 75% barrier level, in which case investors will be fully exposed to the loss of the least performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | Russell 2000 index, SPDR Dow Jones industrial average ETF, Nasdaq-100 index
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| Amount: | $5,268,000
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| Maturity: | Oct. 28, 2021
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| Coupon: | 9.35% annualized, payable each month that each asset closes at or above coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon, if any, unless any asset finishes below barrier level, in which case 1% loss per 1% decline of the worst performing asset
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly valuation date
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| Initial levels: | 8,029.22 for Nasdaq, $269.60 for Dow ETF, 1,558.71 for Russell
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| Coupon barriers: | 6,021.92 for Nasdaq, $202.20 for Dow ETF, 1,169.03 for Russell; 75% of initial levels
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| Barrier levels: | 6,021.92 for Nasdaq, $202.20 for Dow ETF, 1,169.03 for Russell; 75% of initial levels
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| Pricing date: | Oct. 25
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| Settlement date: | Oct. 30
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06747NMF8
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