Published on 12/6/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.37 million phoenix autocallables linked to three stocks
By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – Barclays Bank plc priced $1.37 million of phoenix autocallable notes Nov. 30, 2022 linked to the least performing of the common stocks of Walt Disney Co., Intel Corp. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 9% if each stock closes at or above its coupon barrier, 60% of its initial share 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 95% of its initial share price on any quarterly call date.
The payout at maturity will be par unless any stock finishes below its barrier level, 60% of its initial share price, in which case investors will be exposed to the decline of the worst-performing stock from its initial share price.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying stocks: | Walt Disney Co., Intel Corp. and Goldman Sachs Group, Inc.
|
Amount: | $1,366,000
|
Maturity: | Nov. 30, 2022
|
Coupon: | 9%, payable monthly if each stock closes at or above coupon barrier on related observation date
|
Price: | Par
|
Payout at maturity: | Par unless least-performing stock finishes below barrier level, in which case 1% loss for each 1% decline of least-performing stock from initial share price
|
Call: | Automatically at par if each stock closes at or above 95% of initial share price on any quarterly call date
|
Initial share prices: | $149.69 for Walt Disney, $55.87 Intel and $222.75 for Goldman
|
Coupon barriers: | $89.81 for Walt Disney, $32.29 for Intel and $133.65 for Goldman, or 60% of initial share prices
|
Barrier levels: | $89.81 for Walt Disney, $32.29 for Intel and $133.65 for Goldman, or 60% of initial share prices
|
Pricing date: | Nov. 25
|
Settlement date: | Nov. 29
|
Agents: | Barclays
|
Fees: | 3.5%
|
Cusip: | 06747NQ98
|
|
© 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.