Published on 8/21/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.25 million 8.6% phoenix autocalls on fund, two indexes
By Susanna Moon
Chicago, Aug. 21 – Barclays Bank plc priced $1.25 million of phoenix autocallable notes due Aug. 18, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.6% if each underlying asset closes at or above its 65% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date.
The payout at maturity will be par unless any underlying asset finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worst performing index or fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | S&P 500 index, Russell 2000 index and the iShares MSCI Emerging Markets ETF
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| Amount: | $1.25 million
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| Maturity: | Aug. 18, 2021
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| Coupon: | 8.6% annualized, payable monthly if each asset closes at or above 65% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below 60% trigger, in which case 1% loss per 1% decline of the worst performing index or fund
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any call valuation date other than final date beginning on sixth date
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| Initial levels: | 2,821.93 for S&P, 1,675.32 for Russell and $42.48 for fund
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| Coupon barriers: | 1,834.25 for S&P, 1,088.96 for Russell and $27.61 for fund, 65% of initial levels
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| Trigger levels: | 1,693.16 for S&P, 1,005.19 for Russell and $25.49 for fund, 60% of initial levels
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| Pricing date: | Aug. 14
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| Settlement date: | Aug. 16
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| Agent: | Barclays
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| Fees: | 0.4%
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| Cusip: | 06746XMJ9
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