Published on 6/3/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.21 million phoenix autocallable notes on two ETFs
By Sarah Lizee
Olympia, Wash., June 3 – Barclays Bank plc priced $1.21 million of phoenix autocallable notes due May 31, 2024 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 9.5% per year if each ETF closes at or above its coupon barrier price, 60% of its initial price, on the related observation date.
The notes will be called at par if each ETF closes at or above its initial price on any quarterly call determination date after six months.
The payout at maturity will be par unless any ETF finishes below its 60% barrier, in which case investors will lose 1% for each 1% decline of the worst performing ETF.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying ETFs: | SPDR S&P Oil & Gas Exploration & Production ETF, VanEck Vectors Gold Miners ETF
|
Amount: | $1,206,000
|
Maturity: | May 31, 2024
|
Coupon: | 9.5% payable quarterly if each ETF closes at or above its coupon barrier on related observation date
|
Price: | Par of $1,000
|
Payout at maturity: | Par unless any ETF finishes below its barrier price, in which case investors will lose 1% for each 1% decline of worst performer
|
Call: | At par if each ETF closes at or above its initial price on any quarterly call observation date after six months
|
Initial prices: | $20.42 for gold ETF, $26.71 for oil ETF
|
Coupon barriers: | $12.25 for gold ETF, $16.03 for oil ETF; 60% of initial prices
|
Barrier prices: | $12.25 for gold ETF, $16.03 for oil ETF; 60% of initial prices
|
Pricing date: | May 28
|
Settlement date: | May 31
|
Agent: | Barclays
|
Fees: | 4%
|
Cusip: | 06747MRK4
|
© 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.