Published on 1/16/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.1 million phoenix autocallables tied to three stocks
By Susanna Moon
Chicago, Jan. 16 – Barclays Bank plc priced $2.1 million of phoenix autocallable notes due Jan. 13, 2022 linked to the least performing of the class A common stock of Facebook, Inc. and the common stocks of Citigroup Inc. and Fedex 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 12.8% if each stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any observation date other than the final date.
The payout at maturity will be par unless any stock finishes below its 70% barrier level, in which case investors will be fully exposed to any losses to 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), Citigroup Inc. (Symbol: C) and Fedex Corp. (Symbol: FDX)
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| Amount: | $2.1 million
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| Maturity: | Jan. 13, 2022
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| Coupon: | 12.8% annualized, payable quarterly if each stock closes at or above 70% 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 stock finishes below 70% barrier, in which case 5.35189 Facebook shares, 13.26084 Citi shares or 3.76053 Fedex shares, whichever is worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any observation date other than final date
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| Initial levels: | $186.85 for Facebook, $75.41 for Citigroup and $265.92 for Fedex
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| Barrier levels: | $130.80 for Facebook, $52.79 for Citigroup and $186.14 for Fedex; 70% of initial levels
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 12
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| Agent: | Barclays
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| Fees: | 2.25%
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| Cusip: | 06741WDL1
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