Published on 7/2/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.68 million phoenix autocallable notes on three indexes
By Sarah Lizee
Olympia, Wash., July 2 – Barclays Bank plc sold $1.68 million of phoenix autocallable notes due June 28, 2029 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.6% if each underlying index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index 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 index finishes below its barrier level, 50% of its initial level, 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, Nasdaq-100 index
|
| Amount: | $1,682,000
|
| Maturity: | June 28, 2029
|
| Coupon: | 7.6% annualized, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying index finishes below its barrier level, in which case investors will be exposed to any losses of the worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly valuation date other than final date after one year.
|
| Initial levels: | 2,917.38 for S&P, 1,521.04 for Russell, 7,591.54 for Nasdaq
|
| Coupon barriers: | 2,042.17 for S&P, 1,064.73 for Russell, 5,314.08 for Nasdaq, 70% of initial levels
|
| Barrier values: | 1,458.69 for S&P, 760.52 for Russell, 3,795.77 for Nasdaq; 50% of initial levels
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747MZ58
|
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