Published on 4/23/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.69 million phoenix autocallable notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, April 23 – Barclays Bank plc priced $2.69 million of phoenix autocallable notes due April 25, 2023 linked to the least performing of the common stocks of Walmart Inc., Amazon.com, Inc., Johnson & Johnson and Home Depot, 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 13.5% if each stock closes at or above its 70% coupon barrier on a related observation date.
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 after a year.
The payout at maturity will be par plus the coupon, unless any stock finishes below 70% of its initial value, in which case investors will lose 1.4286% for each 1% decline of the worst performing stock beyond 30%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Walmart Inc., Amazon.com, Inc., Johnson & Johnson and Home Depot, Inc.
|
| Amount: | $2,687,000
|
| Maturity: | April 25, 2023
|
| Coupon: | 13.5% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any stock finishes below final barrier, in which case 1.4286% loss for each 1% decline of the worst performing stock beyond 30%
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any observation date after a year
|
| Initial level: | $129.85 for Walmart, $2,393.61 for Amazon.com, $151.67 for Johnson & Johnson, $206.05 for Home Depot
|
| Coupon/final barriers: | $90.90 for Walmart, $1,675.53 for Amazon.com, $106.17 for Johnson & Johnson, $144.24 for Home Depot; 70% of initial levels
|
| Pricing date: | April 20
|
| Settlement date: | April 23
|
| Agent: | Barclays
|
| Fees: | 1.25%
|
| Cusip: | 06747PPN3
|
|
|
© 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.
