Published on 12/26/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $378,000 7.55% phoenix autocalls tied to Nasdaq-100, Dow
By Susanna Moon
Chicago, Dec. 26 – Barclays Bank plc priced $378,000 of phoenix autocallable notes due Nov. 29, 2019 linked to the lesser performing of the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.55% if each underlying asset closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date.
The payout at maturity will be par unless either underlying asset 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: | Nasdaq-100 index, Dow Jones industrial average
|
Amount: | $378,000
|
Maturity: | Nov. 29, 2019
|
Coupon: | 7.55% annualized, payable quarterly if each asset closes at or above 75% coupon barrier on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless either asset ever closes below 75% trigger, in which case 1% loss per 1% decline of the worse performing index
|
Call: | At par plus contingent coupon if each asset closes at or above initial level on any call valuation date beginning on the second date
|
Initial levels: | 6,701.04 for Nasdaq, 24,748.73 for Dow
|
Trigger levels: | 5,025.78 for Nasdaq, 18,561.55 for Dow, 75% of initial levels
|
Pricing date: | Nov. 27
|
Settlement date: | Nov. 30
|
Agent: | Barclays
|
Fees: | 2.1%
|
Cusip: | 06746XWY5
|
|
|
© 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.