Published on 9/13/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.94 million phoenix autocallables tied to three stocks
By Susanna Moon
Chicago, Sept. 13 – Barclays Bank plc priced $4.94 million of phoenix autocallable notes due Aug. 31, 2020 linked to the least performing of the common stocks of Home Depot, Inc., American Express Co. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if each stock closes at or above its coupon barrier, 50% of its initial level, on the observation date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its 50% trigger 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: | Home Depot, Inc. (Symbol: HD), American Express Co. (Symbol: AXP) and Nvidia Corp. (Symbol: NVDA)
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| Amount: | $4,935,000
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| Maturity: | Aug. 31, 2020
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| Coupon: | 10% per year, payable monthly if each stock closes at or above 50% coupon barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger level; otherwise, full exposure to decline of worst performing stock
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| Call: | At par plus contingent coupon if stocks close at or above initial levels on any quarterly observation date beginning in November
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| Initial levels: | $151.39 for Home Depot, $85.41 for American Express and $164.97 for Nvidia
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| Trigger levels: | $75.70 for Home Depot, $42.71 for American Express and $82.49 for Nvidia; 50% of initial levels
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | Barclays
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| Fees: | 3.35%
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| Cusip: | 06744CDM0
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