Published on 11/14/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.08 million phoenix autocallable notes on two ETFs
By William Gullotti
Buffalo, N.Y., Nov. 14 – Barclays Bank plc priced $1.08 million of phoenix autocallable notes due Nov. 13, 2025 linked to the least performing of the Utilities Select Sector SPDR Fund and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if each ETF closes at or above its 65% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless any ETF finishes below 65% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying funds: | iShares Russell 2000 Value ETF, Utilities Select Sector SPDR Fund
|
Amount: | $1,077,000
|
Maturity: | Nov. 13, 2025
|
Coupon: | 7.5% annualized, payable quarterly if each ETF closes at or above coupon barrier on related observation date
|
Price: | Par
|
Payout at maturity: | Par unless any ETF finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing ETF from its initial level
|
Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any quarterly call observation date after six months
|
Initial levels: | $143.53 for iShares, $65.81 for SPDR
|
Coupon barriers: | $93.29 for iShares, $42.78 for SPDR; 65% of initial levels
|
Final barriers: | $93.29 for iShares, $42.78 for SPDR; 65% of initial levels
|
Pricing date: | Nov. 7
|
Settlement date: | Nov. 10
|
Agent: | Barclays
|
Fees: | 2%
|
Cusip: | 06749N4D1
|
|
© 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.