Published on 1/2/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.23 million autocallable notes on four tech stocks
By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – Barclays Bank plc priced $5.23 million of 6.5% autocallable notes due Dec. 24, 2020 linked to the least performing of the common stocks of Facebook, Inc., Apple Inc., Amazon.com, 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 at or above its initial level on any quarterly determination date beginning on March 21.
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
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Issue: | Autocallable notes
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Underlying stocks: | Facebook, Inc., Apple Inc., Amazon.com, Inc. and Alphabet Inc.
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Amount: | $5,233,000
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Maturity: | Dec. 24, 2020
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Coupon: | 6.5%, 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 beginning March 21
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Initial share prices: | $177.45 for Facebook, $175.01 for Apple, $1,063.63 for Alphabet and $1,174.76 for Amazon
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Barrier levels: | $106.47 for Facebook, $105.01 for Apple, $638.18 for Alphabet and $704.86 for Amazon; 60% of initial share prices
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Agent: | Barclays
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Fees: | 3.25%
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Cusip: | 06744CNC1
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