Published on 12/16/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $617,000 phoenix autocallables linked to indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Dec. 16 – Barclays Bank plc priced $617,000 of phoenix autocallable notes Sept. 14, 2023 linked to the Nasdaq-100 index, Dow Jones industrial average and SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 6% if each asset closes at or above its coupon barrier, 70% of its initial share price, on the observation date for that month.
Starting after six months, the notes will be called at par plus the contingent coupon if each asset closes at or above its initial share price on any quarterly observation date.
The payout at maturity will be par unless any asset finishes below its barrier level, 70% of its initial share price, in which case investors will be exposed to the decline of the worst-performing asset from its initial share price.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | Nasdaq-100 index, Dow Jones industrial average and SPDR S&P MidCap 400 ETF Trust
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| Amount: | $617,000
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| Maturity: | Sept. 14, 2023
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| Coupon: | 6%, payable monthly if each asset closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless least-performing asset finishes below barrier level, in which case 1% loss for each 1% decline of least-performing asset from initial share price
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| Call: | Starting after six months, notes will be called automatically at par if each asset closes at or above initial share price on any quarterly observation date
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| Initial share prices: | 8,354.29 for Nasdaq, 27,881.72 for Dow and $367.30 for ETF
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| Coupon barriers: | 5,848.0 for Nasdaq, 19,517.2 for Russell and $257.11 for ETF, or 70% of initial share prices
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| Barrier levels: | 5,848.0 for Nasdaq, 19,517.2 for Russell and $257.11 for ETF, or 70% of initial share prices
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 11
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| Agents: | Barclays
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| Fees: | 2.9%
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| Cusip: | 06747NVL5
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