Published on 4/2/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.49 million phoenix autocallables on S&P, Stoxx, energy fund
By Wendy Van Sickle
Columbus, Ohio, April 2 – Barclays Bank plc priced $1.49 million of phoenix autocallable notes due Sept. 28, 2020 linked to the least performing of the Energy Select Sector SPDR fund, the S&P 500 index and 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 7.75% if each asset closes at or above its 60% coupon barrier on the observation date for that period.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial price on any observation date starting with the fourth observation date.
The payout at maturity will be par unless any asset finishes below its initial level and any asset ever closes below its 60% barrier price, in which case investors will be fully exposed to any losses of the worst performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | Energy Select Sector SPDR fund, S&P 500 index and Euro Stoxx 50 index
|
| Amount: | $1,492,000
|
| Maturity: | Sept. 28, 2020
|
| Coupon: | 7.75% annualized, payable quarterly if each asset closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if any asset finishes below initial level and ever closes below barrier, in which case full exposure to losses of least performing any asset
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any observation date beginning with the fourth date
|
| Initial prices: | 3,298.07 for Euro Stoxx, 2,588.26 for S&P, $66.77 for fund
|
| Coupon barriers: | 1,978.84 for Russell and 1,552.96 for S&P, $40.06 for fund, 60% of initial levels
|
| Barriers: | 1,978.84 for Russell and 1,552.96 for S&P, $40.06 for fund, 60% of initial levels
|
| Pricing date: | March 23
|
| Settlement date: | March 28
|
| Agent: | Barclays
|
| Fees: | 3.6%
|
| Cusip: | 06746X2Z5
|
© 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.
