Published on 4/12/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1 million phoenix autocallable notes on three stocks
By Devika Patel
Knoxville, Tenn., April 12 – Barclays Bank plc priced $1 million of phoenix autocallable notes due April 15, 2019 linked to the least performing of the common stocks of Chevron Corp., ConocoPhillips and Southwestern Energy Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 28% per year if each stock closes at or above its barrier price, 70% of its initial price, on the related quarterly observation date.
The notes will be called at par if each stock closes at or above its initial level on any quarterly determination date beginning on July 10, 2017.
The payout at maturity will be par unless any stock finishes below its 70% barrier 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
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Chevron Corp. (Symbol: CVX), ConocoPhillips (Symbol: COP) and Southwestern Energy Co. (Symbol: SWN)
|
| Amount: | $1 million
|
| Maturity: | April 15, 2019
|
| Coupon: | 28%, payable quarterly if each stock closes at or above its barrier price on related quarterly observation date
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any stock finishes below its barrier price, in which case investors will lose 1% for each 1% decline of worst performer
|
| Call: | At par if each stock closes at or above its initial level on any quarterly determination date beginning July 10, 2017
|
| Initial prices: | $109.43 for Chevron, $50.15 for ConocoPhillips, $8.36 for Southwestern
|
| Barrier prices: | $76.60 for Chevron, $35.11 for ConocoPhillips, $5.85 for Southwestern; 70% of initial prices
|
| Pricing date: | April 10
|
| Settlement date: | April 13
|
| Agent: | Barclays
|
| Fees: | 2.25%
|
| Cusip: | 06741WCH1
|
|
|
© 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.
