Published on 5/4/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.46 million 9.1% coupon autocalls tied to tech stocks
By Susanna Moon
Chicago, May 4 – Barclays Bank plc priced $1.46 million of 9.1% autocallable notes due April 29, 2021 linked to the least performing of the common stocks of Amazon.com Inc., Facebook, Inc., Alphabet, 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 asset closes at or above its initial level on any call valuation date.
The payout at maturity will be par unless any underlying asset finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worst performing stock.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Annual autocallable notes
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Underlying assets: | Amazon.com Inc. (Symbol: AMZN), Facebook, Inc. (Symbol: FB), Alphabet, Inc. (Symbol: GOOG) and Apple Inc. (Symbol: AAPL)
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Amount: | $1,456,000
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Maturity: | April 29, 2021
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Coupon: | 9.1%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock falls below 60% trigger, in which case 1% loss per 1% decline of the worst performing stock
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Call: | At par if each asset closes at or above initial level on any quarterly call valuation date
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Initial levels: | $1,460.17 for Amazon, $159.69 for Facebook, $1,021.18 for Alphabet and $163.65 for Apple
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Barrier levels: | $876.10 for Amazon, $95.814 for Facebook, $612.71 for Alphabet and $98.19 for Apple, 60% of initial levels
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | Barclays
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Fees: | 3.25%
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Cusip: | 06746X4L4
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