Published on 8/29/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.89 million 10.25% coupon autocallable notes linked to four stocks
By Susanna Moon
Chicago, Aug. 29 – Barclays Bank plc priced $3.89 million of 10.25% autocallable notes due Aug. 29, 2019 linked to the least performing of the commons stocks of Facebook, Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
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 60% barrier level, in which case investors will be fully exposed to any losses of the worst performing stock.
Barclays is the agent.
The notes will price Aug. 25.
The Cusip number is
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Facebook, Inc. (Symbol: FB), Amazon.com, Inc. (Symbol: AMZN), Netflix, Inc. (Symbol: NFLX) and Alphabet Inc. (Symbol: GOOG)
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| Amount: | $3,893,000
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| Maturity: | Aug. 29, 2019
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| Coupon: | 10.25%, payable monthly
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| Price: | Par of $10.00
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| Payout at maturity: | Par unless any stock finishes below 60% barrier, in which case full exposed to any losses of worst performing stock
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| Call: | At par if each stock closes above its initial level on any quarterly call valuation date
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| Initial levels: | $123.89 for Facebook, $759.22 for Amazon, $97.32 for Netflix and $769.41 for Alphabet
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| Barriers: | $74.33 for Facebook, $455.53 for Amazon, $58.39 for Netflix and $461.65 for Alphabet; 60% of initial levels
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| Pricing date: | Aug. 25
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| Settlement date: | Aug. 30
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| Agent: | Barclays
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| Distribution: | Morgan Stanley Smith Barney LLC
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| Fees: | 4%
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| Cusip: | 06741V6W7
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