Published on 2/28/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.56 million buffered phoenix autocallables on three indexes
By Sarah Lizee
Olympia, Wash., Feb. 28 – Barclays Bank plc priced $1.56 million of phoenix autocallable notes due March 1, 2029 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 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 underlying asset closes at or above its 75% 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 25%, in which case investors will be exposed to any losses of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $1,558,000
|
| Maturity: | March 1, 2029
|
| Coupon: | 7.75% annualized, payable quarterly if each asset closes at or above coupon barrier on related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying asset falls by more than 25%, in which case exposure to any losses of the worst performing index
|
| 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
|
| Initial levels: | 2,796.11 for S&P, 1,588.81 for Russell, 7,115.43 for Nasdaq
|
| Coupon barriers: | 2,097.08 for S&P, 1,191.61 for Russell, 5,336.57 for Nasdaq, 75% of initial levels
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Agent: | Barclays
|
| Fees: | 4.5%
|
| Cusip: | 06747MEL6
|
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