Published on 6/19/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.88 million phoenix autocallables linked to three stocks
By Angela McDaniels
Tacoma, Wash., June 19– Barclays Bank plc priced $2.88 million of phoenix autocallable notes due June 20, 2019 linked to the least performing of the common stocks of Facebook Inc., FedEx Corp. and Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at a rate of 12.65% per year if each stock closes at or above its barrier price, 70% of its initial share price, on the related quarterly observation date.
The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly determination date.
The payout at maturity will be par unless any stock finishes below its barrier level, in which case the payout will be par minus 1% for each 1% decline of the worst-performing stock or, at the issuer’s option, a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price of that stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Facebook Inc. (Symbol: FB), FedEx Corp. (Symbol: FDX) and Citigroup Inc. (Symbol: C)
|
| Amount: | $2,875,000
|
| Maturity: | June 20, 2019
|
| Coupon: | 12.65% per year, payable quarterly if each stock closes at or above barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below barrier price, in which case either par minus 1% for each 1% decline of worst-performing stock or, at issuer’s option, number of shares of worst-performing stock equal to $1,000 divided by initial share price of that stock
|
| Call: | Automatically at par if each stock closes at or above initial share price on any quarterly determination date
|
| Initial share price: | $149.80 for Facebook, $210.45 for FedEx and $64.10 for Citigroup
|
| Barrier prices: | $104.86 for Facebook, $147.32 for FedEx and $44.87 for Citigroup; 70% of initial prices
|
| Pricing date: | June 15
|
| Settlement date: | June 20
|
| Agent: | Barclays
|
| Fees: | 2.25%
|
| Cusip: | 06741WCL2
|
© 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.
