Published on 2/28/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.12 million phoenix autocallable notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 28 – Barclays Bank plc priced $2.12 million of phoenix autocallable contingent coupon notes Feb. 26, 2025 linked to the least performing of the Euro Stoxx Banks 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 8.75% 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 observation date after one year.
The payout at maturity will be par plus the coupon, if any, unless any index finishes below 60% 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 contingent coupon notes
|
Underlying indexes: | Dow Jones industrial average, Russell 2000, Euro Stoxx Banks
|
Amount: | $2,121,000
|
Maturity: | Feb. 26, 2025
|
Coupon: | 8.75% annualized, payable quarterly if each index closes at or above coupon barrier on related observation date
|
Price: | Par
|
Payout at maturity: | Par plus any coupon 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 observation date after one year
|
Initial level: | 28,992.41 for Dow, 1,678.61 for Russell, 98.44 for Stoxx
|
Coupon barriers: | 20,294.69 for Dow, 1,175.03 for Russell, 68.91 for Stoxx; 70% of initial levels
|
Final barriers: | 17,395.45 for Dow, 1,007.17 for Russell, 59.06 for Stoxx; 60% of initial levels
|
Pricing date: | Feb. 21
|
Settlement date: | Feb. 26
|
Agent: | Barclays
|
Fees: | 3.62%
|
Cusip: | 06747PCM9
|
|
© 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.