Published on 10/31/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.84 million of 6.5% autocallables tied to tech stocks
By Susanna Moon
Chicago, Oct. 31 – Barclays Bank plc priced $3.84 million of 6.5% autocallable notes due Oct. 30, 2020 linked to the least performing of the class A common stock of Facebook, Inc., the class C common stock of the Alphabet Inc. and the common stocks of Amazon.com, Inc. and Apple 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 at or above its initial level on any quarterly valuation date.
The payout at maturity will be par unless any stock finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying stocks: | Facebook, Inc. (Symbol: FB), Amazon.com, Inc. (Symbol: AMZN) and Apple Inc. (Symbol: AAPL) and Alphabet Inc. (Symbol: GOOG)
|
| Amount: | $3,841,000
|
| Maturity: | Oct. 30, 2020
|
| Coupon: | 6.5%, payable monthly
|
| Price: | Par
|
| 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
|
| Call: | At par if each stock closes at or above its initial level on any quarterly valuation date beginning in January 2018
|
| Initial share prices: | $170.63 for Facebook, $972.56 for Alphabet, $972.43 for Amazon and $157.41 for Apple
|
| Barrier levels: | $102.38 for Facebook, $583.54 for Alphabet, $583.46 for Amazon and $94.45 for Apple; 60% of initial levels
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | Barclays
|
| Fees: | 3.25%
|
| Cusip: | 06744C6K2
|
|
|
|
|
© 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.
