Published on 2/6/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.54 million of 7% three-year autocalls on tech stocks
By Susanna Moon
Chicago, Feb. 6 – Barclays Bank plc priced $6.54 million of 7% autocallable notes due Jan. 29, 2021 linked to the least performing of the class A common stock of Facebook, Inc., the common stocks of Apple 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.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any 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 to the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying assets: | Facebook, Inc. (Symbol: FB), Apple Inc. (Symbol: AAPL), Amazon.com, Inc. (Symbol: AMZN) and Alphabet Inc. (Symbol: GOOG)
|
| Amount: | $6,539,000
|
| Maturity: | Jan. 29, 2021
|
| Coupon: | 7% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes 60% barrier, in which case 5.2632 Facebook shares, 5.8306 Apple shares, 0.7132 Amazon shares or 0.8505 Alphabet shares shares, whichever is worst performing
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly valuation date
|
| Initial levels: | $190.00 for Facebook, $171.51 for Apple, $1,402.05 for Amazon and $1,175.84 for Alphabet
|
| Barrier levels: | $114.00 for Facebook, $102.91 for Apple, $841.23 for Amazon and $705.50 for Alphabet, 60% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agent: | Barclays
|
| Fees: | 3.25%
|
| Cusip: | 06744CQS3
|
|
|
|
|
© 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.
