Published on 7/29/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.01 million autocallables linked to four stocks
By Wendy Van Sickle
Columbus, Ohio, July 29 – Barclays Bank plc priced $3.01 million of autocallable notes due July 31, 2019 linked to the least performing of the class A common stock of Facebook, Inc. and the common stocks of Amazon.com, Inc., Netflix, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 10.15% if each stock closes at or above its barrier level, 60% of its initial level, on the observation date for that month.
The notes will be called at par if each stock closes above its initial level on any quarterly call valuation date.
The payout at maturity will be par unless any stock finishes below its barrier, in which case investors will be fully exposed to the decline of the least performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying stocks: | Facebook, Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc.
|
| Amount: | $3,013,000
|
| Maturity: | July 31, 2019
|
| Coupon: | 10.15%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below barrier price, in which case investors will either be fully exposure to decline of least-performing stock
|
| Call: | Automatically at par if each stock closes at or above initial price on any quarterly call valuation date
|
| Initial share prices: | $121.22 for Facebook, $735.59 for Amazon, $91.41 for Netflix, $738.42 for Alphabet
|
| Barrier prices: | $72.73 for Facebook, $441.35 for Amazon, $54.85 for Netflix, $443.05 for Alphabet; 60% of initial share prices
|
| Pricing date: | July 26
|
| Settlement date: | July 29
|
| Agent: | Barclays
|
| Fees: | 4%
|
| Cusip: | 06741V5X6
|
© 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.
