Published on 3/11/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.06 million phoenix autocallables on indexes, fund
Chicago, March 11 – Barclays Bank plc priced $3.06 million of phoenix autocallable notes due March 5, 2024 linked to the least performing of the iShares MSCI Eurozone ETF, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.55% 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 observation date.
The payout at maturity will be par plus any coupon unless any underlying asset finishes below its 60% barrier value, 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
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Issue: | Phoenix autocallable notes
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Underlying assets: | iShares MSCI Eurozone ETF, the Russell 2000 index and S&P 500 index
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Amount: | $3,059,000
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Maturity: | March 5, 2024
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Coupon: | 8.55% annualized, payable quarterly if 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 unless any asset finishes below barrier value, in which case 1% loss per 1% decline of the worst performing index or fund
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Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly call valuation date
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Initial levels: | $38.47 for fund, 1,575.55 for Russell, 2,784.49 for S&P 500
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Coupon barriers: | $28.85 for fund, 1,181.66 for Russell, 2,088.37 for S&P 500, 75% of initial levels
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Barrier values: | $23.08 for fund, 945.33 for Russell, 1,670.69 for S&P 500, 60% of initial levels
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Pricing date: | Feb. 28
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Settlement date: | March 7
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06747MGP5
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