Published on 5/3/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $799,000 of phoenix autocallables tied to four stocks
By Wendy Van Sickle
Columbus, Ohio, May 3 – Barclays Bank plc priced $799,000 of phoenix autocallable notes due April 29, 2021 linked to the class A common stock of Facebook, Inc., the class C common stock of Alphabet, Inc., and the common stocks of Amazon.com, Inc. and Netflix, 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 underlying stock closes at or above its 50% coupon barrier on the observation date for that month.
The notes will be called automatically at par plus the contingent coupon if each stock closes at or above its initial price on any quarterly call valuation date.
The payout at maturity will be par unless any underlying stock finishes below its 50% barrier price, in which case investors lose 1% for each 1% decline of the least-performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Facebook, Inc., Amazon.com, Inc., Alphabet, Inc. and Neflix, Inc.
|
| Amount: | $799,000
|
| Maturity: | April 29, 2021
|
| Coupon: | 12.5% annualized, payable monthly if each stock closes at or above 50% coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any stock finishes below 50% barrier price, in which case 1% loss per 1% decline of least-performing stock
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly call valuation date
|
| Initial prices: | $159.69 for Facebook, $1,460.17 for Amazon, $305.76 for Netflix and $1,021.18 for Alphabet
|
| Barrier prices: | $79.85 for Facebook, $730.09 for Amazon, $152.88 for Netflix and $510.59 for Alphabet; 50% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | Barclays
|
| Fees: | 3.25%
|
| Cusip: | 06746X4N0
|
|
|
© 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.
