Published on 1/4/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.37 million phoenix autocallables on three indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – Barclays Bank plc priced $1.37 million of phoenix autocallable notes due Dec. 31, 2019 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each six months, the notes will pay a contingent coupon at the rate of 8.4% per year if each index closes at or above its barrier level, 72% of its initial level, on the observation date for that period.
After one year, notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on an observation date.
If each index finishes at or above its barrier level, the payout at maturity will be par. Otherwise, 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
|
| Underlying indexes: | Russell 2000, S&P 500 and Nasdaq-100
|
| Amount: | $1,366,000
|
| Maturity: | Dec. 31, 2019
|
| Coupon: | 8.5% per year, payable semiannually if each index closes at or above barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below barrier level, in which case full exposure to decline of least-performing index
|
| Call: | At par plus the contingent coupon if each index closes at or above its initial level on an observation date after one year
|
| Initial levels: | 1,377.71 for Russell, 2,268.88 for S&P, 4,965.81 for Nasdaq
|
| Barrier levels: | 991.95 for Russell, 1,633.59 for S&P, 3,575.38 for Nasdaq; 72% of initial levels
|
| Pricing date: | Dec. 27
|
| Settlement date: | Dec. 30
|
| Agent: | Barclays
|
| Fees: | 0.25%
|
| Cusip: | 06741VFU1
|
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