Published on 9/4/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 12% phoenix autocalls linked to three stocks
By Susanna Moon
Chicago, Sept. 4 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Aug. 31, 2021 linked to the least performing of the shares of Facebook Inc., Marathon Oil Corp. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12% if each underlying asset closes at or above its 50% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon 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 50% 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: | Phoenix autocallable notes
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Underlying assets: | Facebook Inc. (Symbol: FB), Marathon Oil Corp. (Symbol: MRO) and Nvidia Corp. (Symbol: NVDA)
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Amount: | $500,000
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Maturity: | Aug. 31, 2021
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Coupon: | 12% annualized, payable quarterly if each asset closes at or above 50% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless any asset finishes below 50% trigger, in which case 1% loss per 1% decline of the worst performing stock
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Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly call valuation date
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Initial levels: | $177.46 for Facebook, $20.87 for Marathon and $275.90 for Nvidia
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Trigger levels: | $88.73 for Facebook, $10.44 for Marathon and $137.95 for Nvidia, 50% of initial levels
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Pricing date: | Aug. 27
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Settlement date: | Aug. 30
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Agent: | Barclays
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Fees: | 3.25%
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Cusip: | 06746XN41
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