Published on 8/7/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $618,000 of phoenix autocalls tied to three stocks
By Wendy Van Sickle
Columbus, Ohio, Aug. 7 – Barclays Bank plc priced $618,000 of phoenix autocallable notes due Aug. 1, 2019 linked to the least performing of the shares of Twitter, Inc., Morgan Stanley and FedEx Corp. and Broadcom Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.5% if each underlying asset closes at or above its 60% coupon barrier on the observation date.
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 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
|
Issue: | Phoenix autocallable notes
|
Underlying assets: | Twitter, Inc., Morgan Stanley and FedEx Corp.
|
Amount: | $618,000
|
Maturity: | Aug. 1, 2019
|
Coupon: | 9.5% annualized, payable monthly if each asset closes at or above 60% coupon barrier on observation date
|
Price: | Par
|
Payout at maturity: | Par plus contingent coupon unless any asset finishes below 60% trigger, in which case 1% loss per 1% decline of the worst performing stock
|
Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly call valuation date
|
Initial levels: | $42.94 for Twitter, $50.99 for Morgan Stanley and $241.24 for FedEx
|
Coupon barriers: | $25.76 for Twitter, $30.59 for Morgan Stanley and $144.74 for FedEx, 60% of initial levels
|
Trigger levels: | $25.76 for Twitter, $30.59 for Morgan Stanley and $144.74 for FedEx, 60% of initial levels
|
Pricing date: | July 26
|
Settlement date: | July 31
|
Agent: | Barclays
|
Fees: | 2.5%
|
Cusip: | 06746XJ61
|
|
© 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.