Published on 7/17/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $868,000 of phoenix autocallables on Dow, Russell, S&P
By Sarah Lizee
Olympia, Wash., July 17 – Barclays Bank plc priced $868,000 of phoenix autocallable notes due July 17, 2030 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 5.25% if each index closes at or above its 65% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless any index finishes below 65% of its initial value, in which case investors will be fully exposed to the decline of the least performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying indexes: | S&P 500, Dow Jones industrial average, Russell 2000
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| Amount: | $868,000
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| Maturity: | July 17, 2030
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| Coupon: | 5.25% annualized, payable quarterly if each index closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below final barrier, in which case investors will be fully exposed to the decline of the worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date after one year
|
| Initial level: | 3,155.22 for S&P, 1,403.57 for Russell, 26,085.80 for Dow
|
| Coupon barriers: | 2,050.89 for S&P, 912.32 for Russell, 16,955.77 for Dow; 65% of initial levels
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| Final barriers: | 2,050.89 for S&P, 912.32 for Russell, 16,955.77 for Dow; 65% of initial levels
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| Pricing date: | July 13
|
| Settlement date: | July 16
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| Agent: | Barclays
|
| Fees: | 4.5%
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| Cusip: | 06747Q6W2
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