By Susanna Moon
Chicago, Jan. 14 – Barclays Bank plc priced $500,000 of phoenix autocallable coupon memory notes due Jan. 17, 2018 linked to the worse performing of the common stocks of Apple Inc. and Skyworks Solutions, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.35% if each stock closes at or above its coupon barrier, 50% of its initial price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial price on any quarterly observation date beginning after one year.
If each stock finishes at or above its 50% barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses of the worse performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable coupon memory notes
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| Underlying stocks: | Apple Inc. (Symbol: AAPL) and Skyworks Solutions, Inc. (Symbol: SWKS)
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| Amount: | $500,000
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| Maturity: | Jan. 17, 2018
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| Coupon: | 11.35% annualized for each quarter that each stock closes at or above barrier price on quarterly observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above 50% barrier price, par plus coupon; otherwise, full exposure to losses of worse performing 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 prices: | $98.53 for Apple and $66.05 for Skyworks
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| Barrier prices: | $49.27 for Apple and $33.03 for Skyworks; 50% of initial prices
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 14
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| Underwriter: | Barclays
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| Fees: | 3%
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| Cusip: | 06741U3H5
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