Published on 2/12/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.5 million 10.5% autocallables linked to three stocks
By Susanna Moon
Chicago, Feb. 12 – Barclays Bank plc priced $4.5 million of 10.5% autocallable notes due Aug. 12, 2016 linked to the worse performing of the common stocks of Rite Aid Corp., CVS Health Corp. and Walgreens Boots Alliance, Inc., according 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 price on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its barrier level, 70% of its initial price, in which case investors will be exposed to any losses of the worst performing stock or, at the issuer’s option, receive a number of shares of the worst performing stock equal to $1,000 divided by the initial price of that stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable notes
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| Underlying stocks: | Rite Aid Corp., CVS Health Corp. and Walgreens Boots Alliance, Inc.
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| Amount: | $4.5 million
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| Maturity: | Aug. 12, 2016
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| Coupon: | 10.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par any stock finishes below barrier price, in which case investors will any losses of least performing stock or, at issuer’s option, receive number of shares of least performing stock equal to $1,000 divided by initial price of that stock
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| Call: | At par if each stock closes at or above initial price on any quarterly observation date
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| Initial share prices: | $7.39 for Rite Aid, $99.56 for CVS and $76.40 for Walgreens
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| Physical delivery amount: | 135.318 shares for Rite Aid, 10.04419 for CVS and 13.08901 for Walgreens
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| Barrier levels: | 70% of initial share prices
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 12
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| Agent: | Barclays
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| Fees: | 2.8%
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| Cusip: | 06741UQL1
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