Published on 12/18/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.23 million 13.5% phoenix autocalls on indexes, fund
By Susanna Moon
Chicago, Dec. 18 – Barclays Bank plc priced $8.23 million of phoenix autocallable notes due Dec. 2, 2020 linked to the least performing of the SPDR Dow Jones industrial average ETF, the Nasdaq-100 index 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 13.5% if each underlying asset closes at or above its 80% 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 other than the final date.
The payout at maturity will be par unless any underlying asset finishes below its 80% trigger level, in which case investors will be exposed to any losses of the worst performing index or fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | SPDR Dow Jones industrial average ETF, Nasdaq-100 index, Russell 2000 index
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| Amount: | $8,229,000
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| Maturity: | Dec. 2, 2020
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| Coupon: | 13.5% annualized, payable quarterly if each asset closes at or above 80% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any asset finishes below 80% trigger, in which case 1% loss per 1% decline of the worst performing index or fund
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any call valuation date other than final date beginning with fourth date
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| Initial levels: | $247.50 for fund, 6,701.04 for Nasdaq, 1,492.86 for Russell
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| Trigger levels: | $198.00 for fund, 5,360.83 for Nasdaq, 1,194.29 for Russell, 80% of initial levels
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06746XZ22
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