Published on 2/14/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.2 million phoenix autocallable notes on indexes
By Sarah Lizee
Olympia, Wash., Feb. 14 – Barclays Bank plc priced $3.2 million of phoenix autocallable notes Feb. 3, 2025 linked to the least performing of the S&P 500 index, 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 6.5% if each index closes at or above its 60% 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 notes
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| Underlying indexes: | Nasdaq-100, Russell 2000, S&P 500
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| Amount: | $3,203,000
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| Maturity: | Feb. 3, 2025
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| Coupon: | 6.5% annualized, payable quarterly if each index closes at or above coupon barrier on related observation date
|
| Price: | Par
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| 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: | 9,101.61 for Nasdaq, 1,649.22 for Russell, 3,273.45 for S&P
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| Coupon barriers: | 5,460.97 for Nasdaq, 989.53 for Russell, 1,964.07 for S&P; 60% of initial levels
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| Final barriers: | 5,460.97 for Nasdaq, 989.53 for Russell, 1,964.07 for S&P; 60% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Agent: | Barclays
|
| Fees: | 0.75%
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| Cusip: | 06747P2P3
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