Published on 1/31/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.75 million buffered phoenix autocallables on three indexes
By Marisa Wong
Morgantown, W.Va., Jan. 31 – Barclays Bank plc priced $5.75 million of buffered phoenix autocallable notes due Jan. 29, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 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% if each underlying asset closes at or above its 60% coupon barrier on the related quarterly observation date.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly call valuation date after one year.
The payout at maturity will be par unless any underlying asset falls by more than 20%, in which case investors will be exposed to any losses of the worst performing index beyond the 20% buffer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered phoenix autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $5,745,000
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| Maturity: | Jan. 29, 2024
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| Coupon: | 7% annualized, payable quarterly if each asset closes at or above coupon barrier on related quarterly observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any underlying asset falls by more than 20%, in which case exposure to any losses of the worst performing index beyond the 20% buffer
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly call valuation date other than final date beginning with fourth date
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| Initial levels: | 2,642.33 for S&P, 1,464.41 for Russell, 24,553.24 for Dow
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| Coupon barriers: | 1,585.40 for S&P, 878.65 for Russell, 14,731.94 for Dow, 60% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06747MB47
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