Published on 7/6/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.68 million phoenix autocallable notes on indexes, ETF
By Kiku Steinfeld
Chicago, July 6 – Barclays Bank plc priced $4.68 million of phoenix autocallable notes due June 30, 2022 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15% if each asset closes at or above its 71.49% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any asset finishes below 71.49% of its initial value, in which case investors will be fully exposed to the decline of the least performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | S&P 500, SPDR S&P MidCap 400 ETF Trust, Nasdaq-100
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| Amount: | $4,676,000
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| Maturity: | June 30, 2022
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| Coupon: | 15% annualized, payable quarterly if each asset closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below final barrier, in which case investors will be fully exposed to the decline of the worst performing asset
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly call observation date
|
| Initial level: | 3,009.05 for S&P, $312.88 for ETF, 9,849.36 for Nasdaq
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| Coupon barriers: | 2,151.17 for S&P, $223.68 for ETF, 7,041.31 for Nasdaq; 71.49% of initial levels
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| Final barriers: | 2,151.17 for S&P, $223.68 for ETF, 7,041.31 for Nasdaq; 71.49% of initial levels
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| Pricing date: | June 26
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| Settlement date: | July 2
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06747Q3R6
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