Published on 12/3/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.58 million phoenix autocallable notes on Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Dec. 3 – Barclays Bank plc priced $1.58 million of phoenix autocallable notes due May 31, 2022 linked to the least performing of the Nasdaq-100 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 6.25% if each index closes at or above its 75% coupon barrier on a related observation date.
After six months, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any observation date.
The payout at maturity will be par plus any coupon unless any index finishes below 75% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying indexes: | Nasdaq-100 index and the Dow Jones industrial average
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| Amount: | $1,581,000
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| Maturity: | May 31, 2022
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| Coupon: | 6.25% 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 plus any coupon unless any index finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing index
|
| Call: | After six months, automatically at par plus contingent coupon if each index closes at or above initial level on any observation date
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| Initial level: | 12,079.81 for Nasdaq, 30,046.24 for Dow
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| Coupon barriers: | 9,059.86 for Nasdaq, 22,534.68 for Dow; 75% of initial levels
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| Final barriers: | 9,059.86 for Nasdaq, 22,534.68 for Dow; 75% of initial levels
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 30
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| Agent: | Barclays
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| Fees: | 2.65%
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| Cusip: | 06747QPF8
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