Published on 2/5/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $207,000 of 12.5% rate phoenix autocalls on tech stocks
By Susanna Moon
Chicago, Jan. 23 – Barclays Bank plc priced $207,000 of phoenix autocallable notes due Jan. 29, 2021 linked to the lesser performing of the class A common stock of Facebook, Inc., the common stocks of Netflix, Inc. and Amazon.com, Inc. and the class C common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12.5% if each stock closes at or above its 60% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above initial level on any call observation date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | Facebook, Inc. (Symbol: FB), Netflix, Inc. (Symbol: NFLX), Amazon.com, Inc. (Symbol: AMZN) and Alphabet Inc. (Symbol: GOOG)
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| Amount: | $207,000
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| Maturity: | Jan. 29, 2021
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| Coupon: | 12.5% annualized, payable monthly if each stock closes at or above 60% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below 60% trigger, in which case 1% loss per 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any observation date other than final date
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| Initial levels: | $190.00 for Facebook, $274.60 for Netflix, $1,402.05 for Amazon and $1,175.84 for Alphabet
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| Barrier levels: | $114.00 for Facebook, $164.76 for Netflix, $841.23 for Amazon and $705.50 for Alphabet, 60% of initial levels
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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: | 3.25%
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| Cusip: | 06744CQR5
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