Published on 9/21/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $750,000 of phoenix autocallables tied to Euro Stoxx 50
By Susanna Moon
Chicago, Sept. 19 – Barclays Bank plc priced $750,000 of phoenix autocallable notes due Sept. 20, 2022 linked to the Euro Stoxx 50 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 9.65% if the index closes at or above its coupon barrier, 85% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly observation date other than the final date.
The payout at maturity will be par unless the index finishes below its 85% trigger level, in which case investors will be fully exposed to any losses.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying index: | Euro Stoxx 50 index
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Amount: | $750,000
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Maturity: | Sept. 20, 2022
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Coupon: | 9.65% per year, payable quarterly if index closes at or above 85% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if index finishes at or above trigger level; otherwise, 1% loss for each 1% decline
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Call: | At par plus contingent coupon if index closes at or above initial levels on any quarterly observation date other than final date
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Initial level: | 3,515.55
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Trigger level: | 2,988.22, 85% of initial level
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Pricing date: | Sept. 15
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Settlement date: | Sept. 20
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Agent: | Barclays
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Fees: | None
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Cusip: | 06744C4F5
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