Published on 10/10/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $250,000 phoenix autocallables tied to S&P, Nasdaq
Chicago, Oct. 10 – Barclays Bank plc priced $250,000 of phoenix autocallable notes due Oct. 2, 2024 linked to the least performing of the Nasdaq-100 index and the S&P 500 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 6.25% if each index closes at or above its 75% coupon barrier on the observation date for that quarter.
After one year, 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 before the final valuation date.
The payout at maturity will be par plus the contingent coupon unless any index closes below 75% of its initial level, in which case investors will be fully exposed to the loss of the least performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying indexes: | Nasdaq-100 index, S&P 500
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| Amount: | $250,000
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| Maturity: | Oct. 2, 2024
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| Coupon: | 6.25% annualized, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either index closes below 75% of its initial level, in which case 1% loss per 1% decline of the worst performing index from initial level
|
| Call: | After one year, at par plus contingent coupon if each index closes at or above initial level on any quarterly valuation date other than final valuation date
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| Initial levels: | 2,961.79 for S&P, 7,681.58 for Nasdaq
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| Coupon barriers: | 2,221.34 for S&P, 5,761.19 for Nasdaq, 75% of initial levels
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| Barrier levels: | 2,221.34 for S&P, 5,761.19 for Nasdaq, 75% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Oct. 2
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| Agent: | Barclays
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| Fees: | 4.1%
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| Cusip: | 06747NHU1
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