Published on 4/4/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.88 million autocallable notes on four tech stocks
By Marisa Wong
Morgantown, W.Va., April 4 – Barclays Bank plc priced $1.88 million of 11% autocallable notes due March 28, 2019 linked to the least performing of the class A common stock of Alphabet Inc., the common stock of Amazon.com, Inc., the class A common stock of Facebook, Inc. and the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly call valuation date.
The payout at maturity will be par unless the final share price of the least-performing stock is less than its barrier price, 50% of its initial share price, in which case investors will be fully exposed to the decline of the least-performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable notes
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| Underlying stocks: | Alphabet Inc. (Symbol: GOOG), Amazon.com, Inc. (Symbol: AMZN), Facebook, Inc. (Symbol: FB) and the common stock of Netflix, Inc. (Symbol: NFLX)
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| Amount: | $1,877,000
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| Maturity: | March 28, 2019
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| Coupon: | 11%, payable monthly
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless the final share price of the least-performing stock is less than its barrier price, in which case investors will be fully exposed to the decline of the least-performing stock
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| Call: | Automatically at par if each stock closes at or above its initial share price on any quarterly call valuation date
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| Initial prices: | $113.69 for Facebook, $579.87 for Amazon, $101.21 for Netflix, $733.53 for Alphabet
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| Barrier prices: | $56.85 for Facebook, $289.94 for Amazon, $50.61 for Netflix, $366.77 for Alphabet; 50% of initial prices
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| Pricing date: | March 28
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| Settlement date: | March 31
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| Agent: | Barclays
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| Fees: | 4%
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| Cusip: | 06741WBL3
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