Published on 6/6/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.23 million autocallable notes on Halliburton, Nabors
By Wendy Van Sickle
Columbus, Ohio, June 6 – Barclays Bank plc priced $1.23 million of 11% autocallable notes due May 29, 2020 linked to the least performing of the common stocks of Halliburton Co. and Nabors Industries Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any quarterly call date beginning Nov. 29.
The payout at maturity will be par 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: | Autocallable notes
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Underlying stocks: | Halliburton Co., Nabors Industries Ltd.
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Amount: | $1,225,000
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Maturity: | May 29, 2020
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Coupon: | 11%, payable monthly
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Price: | Par of $1,000
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Payout at maturity: | Par unless any stock finishes below its barrier price, in which case investors will lose 1% for each 1% decline of the worst performing stock
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Call: | At par if each stock closes at or above its initial level on any quarterly determination date beginning Nov. 29
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Initial prices: | $49.76 for Halliburton, $7.30 for Nabors
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Barrier levels: | $24.88 for Halliburton, $3.65 for Nabors; 50% of initial levels
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Pricing date: | May 29
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Settlement date: | May 31
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Agent: | Barclays
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Fees: | 2.5%
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Cusip: | 06746XCZ4
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