Published on 5/7/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.1 million phoenix autocallables on Nasdaq, Dow
By Wendy Van Sickle
Columbus, Ohio, May 7 – Barclays Bank plc priced $1.1 million of phoenix autocallable notes due May 1, 2024 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.25% if each underlying asset closes at or above its 73% coupon barrier on the observation date for that quarter.
After a year, the notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly call valuation date before the final valuation date.
The payout at maturity will be par unless any underlying asset falls by more than 27%, 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: | Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1.1 million
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| Maturity: | May 1, 2024
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| Coupon: | 6.25% annualized, payable each quarter that each asset closes at or above 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 barrier level, 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 quarterly valuation date other than final date after one year
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| Initial levels: | 7,826.68 for Nasdaq, 26,543.33 for Dow
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| Coupon barriers: | 5,713.48 for Nasdaq, 19,376.63 for Dow; 73% of initial levels
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| Barrier levels: | 5,713.48 for Nasdaq, 19,376.63 for Dow; 73% of initial levels
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| Pricing date: | April 26
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| Settlement date: | May 1
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| Agent: | Barclays
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| Fees: | 4.1%
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| Cusip: | 06747MPJ9
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