Published on 7/19/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $835,000 phoenix autocallables tied to Stoxx, two ETFs
New York, July 19 – Barclays Bank plc priced $835,000 of phoenix autocallable notes due April 19, 2021 linked to the least performing of the Euro Stoxx 50 index, the Technology Select Sector SPDR fund and the SPDR S&P Regional Banking exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if each underlier closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Starting Jan. 14, 2018, the notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly observation date other than the final date.
The payout at maturity will be par unless any underlier finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing underlier.
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, the Technology Select Sector SPDR fund and the SPDR S&P Regional Banking exchange-traded fund
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| Amount: | $835,000
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| Maturity: | April 19, 2021
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| Coupon: | 9.25% per year, payable quarterly if each underlier closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon, if any, if each underlier finishes at or above barrier level; otherwise, full exposure to decline of least performing underlier
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| Call: | Starting Jan. 14, 2018, automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly observation date other than final one
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| Initial levels: | 3,525.94 for Stoxx, $56.86 for Technology Sector, $55.02 for Regional Banking
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| Coupon barriers: | 2,468.16 for Stoxx, $39.80 for Technology Sector, $38.51 for Regional Banking; 70% of initial levels
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| Barriers: | 2,468.16 for Stoxx, $39.80 for Technology Sector, $38.51 for Regional Banking; 70% of initial levels
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| Pricing date: | July 14
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| Settlement date: | July 19
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| Agent: | Barclays
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| Fees: | 2.95%
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| Cusip: | 06744CBY6
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