Published on 3/21/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.29 million 8% phoenix autocalls tied to three ETFs
New York, March 21 – Barclays Bank plc priced $1.29 million of phoenix autocallable notes due March 16, 2023 linked to the lesser performing of the SPDR S&P 500 exchange-traded fund, the iShares Russell 2000 exchange-traded fund and the SPDR Euro Stoxx 50 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 8% if each underlying fund closes at or above its 60% coupon barrier on the observation date for that period.
The notes will be automatically called at par plus the contingent coupon if each fund closes at or above its initial level on any call observation date other than the final date.
The payout at maturity will be par unless any underlying fund finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying funds: | SPDR S&P 500 exchange-traded fund, the iShares Russell 2000 exchange-traded fund and the SPDR Euro Stoxx 50 exchange-traded fund
|
| Amount: | $1,285,000
|
| Maturity: | March 16, 2023
|
| Coupon: | 8% annualized, payable semiannually if each fund closes at or above 60% coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any fund finishes below 60% trigger, in which case 1% loss per 1% decline of worst performing fund
|
| Call: | Automatically at par plus contingent coupon if each fund closes at or above initial level on any observation date other than final date
|
| Initial levels: | $278.87 for SPDR S&P, $158.92 for iShares Russell, $41.04 for SPDR Euro Stoxx
|
| Coupon barriers: | $167.32 for SPDR S&P, $95.35 for iShares Russell, $24.62 for SPDR Euro Stoxx; 60% of initial levels
|
| Trigger levels: | $167.32 for SPDR S&P, $95.35 for iShares Russell, $24.62 for SPDR Euro Stoxx; 60% of initial levels
|
| Pricing date: | March 9
|
| Settlement date: | March 16
|
| Agent: | Barclays
|
| Fees: | 0.6%
|
| Cusip: | 06741WDZ0
|
|
|
|
|
© 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.
