Published on 3/6/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.3 million phoenix autocallables linked to three stocks
By Susanna Moon
Chicago, March 6 – Barclays Bank plc priced $3.3 million of phoenix autocallable notes due Feb. 28, 2019 linked to the least performing of the common stocks of Ford Motor Co., Delta Airlines, Inc. and eBay Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9% if each stock closes at or above the coupon barrier – 50% of the initial level – 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 the initial price on any observation date.
The payout at maturity will be par plus the contingent coupon unless any stock finishes below its 50% barrier level, 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: | Ford Motor Co. (Symbol: F), Delta Airlines, Inc. (Symbol: DAL) and eBay Inc. (Symbol: EBAY)
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| Amount: | $3.3 million
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| Maturity: | Feb. 28, 2019
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| Coupon: | 9%, payable quarterly if each stock 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 stock finishes below 50% barrier, in which case 1% loss for each 1% decline of worse performing index
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| Call: | At par plus contingent coupon if each stock closes at or above initial price on any observation date
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| Initial levels: | $12.56 for Ford, $50.48 for Delta and $33.60 for eBay
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| Barrier levels: | $6.28 for Ford, $25.24 for Delta and $16.80 for eBay, 50% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | Barclays
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| Fees: | 3%
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| Cusip: | 06741VK50
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