Wednesday’s deal gives the Pelicans the No. 52 overall selection Thursday night.
That was the only pick Washington had this year. Its first-rounder went to Brooklyn in the Bojan Bogdanovic deal at the trade deadline.
The 6-foot-1, 170-pound Frazier has averaged 6.2 points, 4.4 assists and 2.4 rebounds in three NBA seasons with New Orleans, Philadelphia and Portland. He has played in 127 regular-season games, making 40 starts.
Last season, he averaged 7.1 points and 5.2 assists for the Pelicans in 65 games, including 35 starts.
With Washington, Frazier could be the primary backup to All-Star point guard John Wall.