Published on 6/27/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $904,000 phoenix autocallable notes on three stocks
By Marisa Wong
Morgantown, W.Va., June 27 – Barclays Bank plc priced $904,000 of phoenix autocallable notes due June 23, 2022 linked to the least performing of the common stocks of Facebook, Inc., Intel Corp. and Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 15% per year if each stock closes at or above its coupon barrier price, 65% of its initial price, on the related quarterly observation date.
The notes will be called at par if each stock closes at or above its initial price on any quarterly determination date beginning in December 2018 and ending in March 2022.
The payout at maturity will be par unless any stock finishes below its 65% barrier, 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: | Phoenix autocallable notes
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| Underlying stocks: | Facebook, Inc. (Symbol: FB), Intel Corp. (Symbol: INTC) and Qualcomm Inc. (Symbol: QCOM)
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| Amount: | $904,000
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| Maturity: | June 23, 2022
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| Coupon: | 15%, payable each quarter that each stock closes at or above its barrier price on related quarterly observation date
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any stock finishes below its barrier price, in which case investors will lose 1% for each 1% decline of worst performer
|
| Call: | At par if each stock closes at or above its initial price on any quarterly observation date beginning in December 2018 and ending in March 2022
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| Initial prices: | $198.31 for Facebook, $53.22 for Intel, $59.20 for Qualcomm
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| Barrier prices: | $128.90 for Facebook, $34.59 for Intel, $38.48 for Qualcomm; 65% of initial prices
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| Pricing date: | June 18
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| Settlement date: | June 21
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| Agent: | Barclays
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| Fees: | 2.65%
|
| Cusip: | 06746XFJ7
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