Published on 8/7/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.54 million phoenix autocalls tied to S&P 500, Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, Aug. 7 – Barclays Bank plc priced $1.54 million of phoenix autocallable notes due July 31, 2019 linked to the lesser performing of 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 6% if each underlying index closes at or above its 75% coupon barrier on the observation date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any observation date beginning on the second date.
The payout at maturity will be par unless either underlying index finishes below its initial level and either index ever closes below its 75% trigger level, in which case investors will be exposed to any losses of the worse performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | S&P 500, Euro Stoxx 50
|
| Amount: | $1,537,000
|
| Maturity: | July 31, 2019
|
| Coupon: | 6% annualized, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below initial level end either ever closes below trigger, in which case 1% loss per 1% decline of the worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date beginning on the second date
|
| Initial levels: | 2,837.44 for S&P, 3,509.26 for Stoxx
|
| Coupon barriers: | 2,128.08 for S&P, 2,631.95 for Stoxx, 75% of initial levels
|
| Triggers: | 2,128.08 for S&P, 2,631.95 for Stoxx, 75% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 30
|
| Agent: | Barclays
|
| Fees: | 2.1%
|
| Cusip: | 06746XH97
|
|
|
© 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.
