Published on 2/1/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.31 million autocallable notes linked to four tech stocks
By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – Barclays Bank plc priced $2.31 million of autocallable notes due Jan. 30, 2020 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.
The notes will pay a monthly coupon at an annualized rate of 10%.
The notes will be called at par if each stock closes at or above its initial share price on any quarterly call valuation date after six months.
The payout at maturity will be par unless any stock finishes below its barrier level, 60% of its initial share price, in which case investors will lose 1% for each 1% 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: | Facebook, Inc. (Symbol: FB), Amazon.com, Inc. (Symbol: AMZN), Netflix, Inc. (Symbol: NFLX) and Alphabet Inc. (Symbol: GOOG)
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Amount: | $2,314,000
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Maturity: | Jan. 30, 2020
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Coupon: | 10%, payable monthly
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Price: | Par of $1,000
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Payout at maturity: | Par unless any stock finishes below its barrier price, in which case investors will lose 1% for each 1% decline of the worst performing stock
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Call: | At par if each stock closes at or above its initial level on any quarterly determination date
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Initial prices: | $132.78 for Facebook, $839.15 for Amazon, $138.96 for Netflix, $832.15 for Alphabet
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Barrier prices: | $79.67 for Facebook, $503.49 for Amazon, $83.38 for Netflix, $499.29 for Alphabet; 60% of initial prices
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | Barclays
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Fees: | 4%
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Cusip: | 06741VGF3
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