Published on 8/29/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $718,000 phoenix autocallable notes on three stocks
By Marisa Wong
Morgantown, W.Va., Aug. 29 – Barclays Bank plc priced $718,000 of phoenix autocallable notes due Aug. 30, 2018 linked to the least performing of the common stocks of Bank of America Corp., Apple Inc. and Dow Chemical Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at a rate of 6.25% per year if each stock closes at or above its barrier price, 50% of its initial price, on the related monthly observation date.
The notes will be called at par if each stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any stock finishes below its 50% barrier level, in which case investors will be fully exposed to any losses of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Bank of America Corp. (Symbol: BAC), Apple Inc. (Symbol: AAPL) and Dow Chemical Co. (Symbol: DOW)
|
| Amount: | $718,000
|
| Maturity: | Aug. 30, 2018
|
| Coupon: | 6.25%, payable monthly if each stock closes at or above its barrier price on related monthly observation date
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any stock finishes below its barrier price, in which case investors will be fully exposed to any losses of worst performer
|
| Call: | At par if each stock closes at or above its initial level on any quarterly determination date
|
| Initial prices: | $15.53 for BofA, $107.57 for Apple, $54.02 for Dow
|
| Barrier prices: | $7.77 for BofA, $53.79 for Apple, $27.01 for Dow; 50% of initial prices
|
| Pricing date: | Aug. 25
|
| Settlement date: | Aug. 30
|
| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06741VA36
|
|
|
© 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.
