By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – Barclays Bank plc priced $2.23 million of phoenix autocallable notes due Feb. 3, 2020 linked to the least performing of the common stocks of Bank of America Corp., Citigroup Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each stock 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 stock closes at or above its initial level on any observation date other than the final date.
The payout at maturity will be par unless any stock finishes below its 70% barrier level, in which case investors will be fully exposed to any losses to the worst performing stock.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying stocks: | Bank of America Corp., Citigroup Inc. and Wells Fargo & Co.
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Amount: | $2.23 million
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Maturity: | Feb. 3, 2020
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Coupon: | 9% annualized, payable quarterly if each stock closes at or above 70% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless any stock finishes below 70% barrier, in which case shares of worst performing stock
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Call: | At par plus contingent coupon if each stock closes at or above initial level on any observation date other than final date
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Initial levels: | $32.09 for BofA, $79.44 for Citigroup and $65.65 for Wells
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Barrier levels: | $22.46 for BofA, $55.61 for Citigroup and $45.96 for Wells; 70% of initial levels
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Pricing date: | Jan. 25
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Settlement date: | Feb. 1
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Agent: | Barclays
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Fees: | 2.5%
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Cusip: | 06741WDR8
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