Published on 11/2/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $111,000 phoenix autocallable notes on Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 2 – Barclays Bank plc priced $111,000 of phoenix autocallable notes due Oct. 30, 2023 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 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 6.25% if each index closes at or above its 70% 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 six months.
The payout at maturity will be par unless any index finishes below 70% 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
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000, Nasdaq-100
|
| Amount: | $111,000
|
| Maturity: | Oct. 30, 2023
|
| Coupon: | 6.25% annualized, payable quarterly if each index closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| 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 six months
|
| Initial level: | 27,463.19 for Dow, 1,590.71 for Russell, 11,598.95 for Nasdaq
|
| Coupon/final barriers: | 19,224.23 for Dow, 1,113.49 for Russell, 8,119.26 for Nasdaq, 70% of initial levels
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 30
|
| Agent: | Barclays
|
| Fees: | 2.8%
|
| Cusip: | 06747QMW4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
