Published on 10/25/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.58 million 8.15% phoenix autocalls on MSCI EAFE, EM fund
By Susanna Moon
Chicago, Oct. 25 – Barclays Bank plc priced $1.58 million of phoenix autocallable notes due Oct. 15, 2021 linked to the lesser performing of the MSCI EAFE 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 quarterly coupon at an annual rate of 8.15% if each underlying asset 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 asset closes at or above its initial level on any call valuation date other than the final date.
The payout at maturity will be par unless either underlying asset closes below its 70% trigger level, in which case investors will be exposed to any losses of the worse performing index or fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying assets: | MSCI EAFE index and iShares MSCI Emerging Markets ETF
|
| Amount: | $1,575,000
|
| Maturity: | Oct. 15, 2021
|
| Coupon: | 8.15% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset falls by more than 30%, in which case in which case 1% loss per 1% decline of worse performing index or fund
|
| 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 with second date
|
| Initial levels: | 1,893.46 for EAFE fund, $39.54 for EM fund
|
| Trigger levels: | 1,325.42 for EAFE fund, $27.68 for EM fund, 70% of initial levels
|
| Pricing date: | Oct. 10
|
| Settlement date: | Oct. 17
|
| Agent: | Barclays
|
| Fees: | 2.4%
|
| Cusip: | 06746XTW3
|
|
|
|
|
© 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.
