Published on 7/22/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.1 million phoenix autocallable notes on three indexes
By Wendy Van Sickle
Columbus Ohio, July 22 – Barclays Bank plc priced $2.1 million of phoenix autocallable notes due Jan. 21, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if each asset closes at or above its 70% 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 monthly call observation date after three months.
The payout at maturity will be par plus any coupon, unless any asset finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying assets: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $2,101,000
|
| Maturity: | Jan. 21, 2022
|
| Coupon: | 10% annualized, payable monthly if each asset closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any asset finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing asset
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any monthly call observation date after three months
|
| Initial level: | 3,224.73 for S&P 500, 1,473.32 for Russell, 26,671.95 for Dow
|
| Coupon barriers: | 2,257.31 for S&P 500, 1,031.32 for Russell, 18,670.37 for Dow; 70% of initial levels
|
| Final barriers: | 2,257.31 for S&P 500, 1,031.32 for Russell, 18,670.37 for Dow; 70% of initial levels
|
| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Agent: | Barclays
|
| Fees: | 2.175%
|
| Cusip: | 06747Q4K0
|
|
|
© 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.
