By Wendy Van Sickle
Columbus, Ohio, Feb. 2 – Barclays Bank plc priced $1.95 million of phoenix autocallable notes due Jan. 31, 2019 linked to the least performing of three common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying stocks are Walt Disney Co., Royal Caribbean Cruises Ltd. and United Continental Holdings, Inc.
Each month, the notes will pay a contingent coupon at an annual rate of 9.5% if each stock closes at or above its barrier level, 50% of its initial price, 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 price on any quarterly call valuation date after six months.
The payout at maturity will be par plus the contingent coupon unless any stock finishes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Walt Disney Co., Royal Caribbean Cruises Ltd., United Continental Holdings, Inc.
|
| Amount: | $1,945,000
|
| Maturity: | Jan. 31, 2019
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| Coupon: | 9.5%, payable monthly if each stock closes at or above barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless least-performing stock finishes below 50% barrier level, in which case 1% loss for each 1% decline of the least-performing stock
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly observation date after six months
|
| Initial prices: | $108.06 for Disney, $95.64 for Royal Caribbean and $75.38 for United Continental
|
| Barrier prices: | $54.03 for Disney, $47.82 for Royal Caribbean and $37.69 for United Continental; 50% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agents: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06741VGD8
|
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