Published on 7/10/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.37 million phoenix autocallable notes on three stocks
By Susanna Moon
Chicago, July 10 – Barclays Bank plc priced $1.37 million of phoenix autocallable notes due June 27, 2019 linked to the least performing of the common stocks of O’Reilly Automotive, Inc., Bank of America Corp. and Verizon Communications 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 13.1% if each stock closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any stock finishes below its 60% 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: | O’Reilly Automotive, Inc. (Symbol: ORLY), Bank of America Corp. (Symbol: BAC) and Verizon Communications Inc. (Symbol: VZ)
|
| Amount: | $1,365,000
|
| Maturity: | June 27, 2019
|
| Coupon: | 13.1%, payable quarterly if each stock closes at or above its 60% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| 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
|
| Initial prices: | $220.08 for O’Reilly, $22.82 for Bank of America and $45.39 for Verizon
|
| Barrier prices: | $132.05 for O’Reilly, $13.69 for Bank of America and $27.23 for Verizon; 60% of initial prices
|
| Pricing date: | June 23
|
| Settlement date: | June 30
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741VZ21
|
|
|
|
|
© 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.
