Published on 10/17/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $777,000 7.2% phoenix autocalls on Stoxx, Dow, Russell
By Susanna Moon
Chicago, Oct. 17 – Barclays Bank plc priced $777,000 of phoenix autocallable notes due Sept. 28, 2028 linked to the least performing of the Euro Stoxx 50 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 7.2% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date other than the final date.
The payout at maturity will be par unless any underlying asset finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | Euro Stoxx 50 index, Dow Jones industrial average, Russell 2000 index
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| Amount: | $777,000
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| Maturity: | Sept. 28, 2028
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| Coupon: | 7.2% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any asset finishes below 60% trigger, in which case 1% loss per 1% decline of the worst performing index
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any call valuation date other than final date beginning with fourth date
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| Initial levels: | 3,419.78 for Stoxx, 26,492.21 for Dow, 1,708.81 for Russell
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| Coupon barriers: | 2,393.85 for Stoxx, 18,544.55 for Dow, 1,196.17 for Russell, 70% of initial levels
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| Trigger levels: | 2,051.87 for Stoxx, 15,895.33 for Dow, 1,025.29 for Russell, 60% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 28
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| Agent: | Barclays
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| Fees: | 4.6%
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| Cusip: | 06746XQB2
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