Published on 3/20/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $728,000 buffered phoenix autocallable notes on stocks
By Sarah Lizee
Olympia, Wash., March 20 – Barclays Bank plc priced $728,000 of buffered phoenix autocallable notes due March 23, 2022 linked to the least performing of the common stocks of Nvidia Corp., Skyworks Solutions, Inc. and Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14% if each underlying asset closes at or above its 60% 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 after six months.
The payout at maturity will be par unless any underlying asset falls by more than 20%, in which case investors will be exposed to any losses of the worst performing stock beyond the buffer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered Phoenix autocallable notes
|
| Underlying assets: | Nvidia Corp., Skyworks Solutions, Inc. and Qualcomm Inc.
|
| Amount: | $728,000
|
| Maturity: | March 23, 2022
|
| Coupon: | 14% annualized, payable quarterly if each asset closes at or above 60% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset falls by more than 20%, in which case 1% loss per 1% decline of the worst performing stock beyond 20%
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any observation date after six months
|
| Initial levels: | $168.95 for Nvidia, $82.59 for Skyworks, $56.83 for Qualcomm
|
| Trigger levels: | $101.37 for Nvidia, $49.55 for Skyworks, $34.10 for Qualcomm, 60% of initial levels
|
| Pricing date: | March 18
|
| Settlement date: | March 21
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747MJR8
|
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