Published on 7/13/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million phoenix autocallables linked to Russell 2000, Stoxx Banks
New York, July 13 – Barclays Bank plc priced $2 million of phoenix autocallable notes due Jan. 16, 2019 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx Banks 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 12% if each index closes at or above its coupon barrier, 80% of its initial level, on the observation date for that quarter.
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 six months other than the final date.
The payout at maturity will be par unless either index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx Banks
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| Amount: | $2 million
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| Maturity: | Jan. 16, 2019
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| Coupon: | 12% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon, if any, if each index finishes at or above barrier level; otherwise, full exposure to decline of lesser-performing index
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| Call: | After six months, automatically at par plus contingent coupon if both indexes close at or above initial levels on any quarterly observation date other than final one
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| Initial levels: | 1,408.48 for Russell, 136.28 for Euro Stoxx Banks
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| Coupon barriers: | 1,126.78 for Russell, 109.02 for Euro Stoxx Banks; 80% of initial levels
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| Barriers: | 985.94 for Russell, 95.40 for Euro Stoxx Banks; 70% of initial levels
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| Pricing date: | July 11
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| Settlement date: | July 14
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| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06744CBW0
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