Published on 1/31/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.61 million phoenix autocallables linked to three stocks
Chicago, Jan. 31 – Barclays Bank plc priced $6.61 million of phoenix autocallable notes due Jan. 31, 2023 linked to the least performing of the common stocks of Intel Corp., Walmart Inc. and Morgan Stanley 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 9.5% if each stock closes at or above its coupon barrier, 60% of its initial share price, on the observation date for that quarter.
Starting after six months, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date.
If the notes are not called, 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
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| Underlying stocks: | Intel Corp., Walmart Inc. and Morgan Stanley
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| Amount: | $6,613,000
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| Maturity: | Jan. 31, 2023
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| Coupon: | 9.5%, payable monthly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
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| 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: | Starting after six months, automatically at par if each stock closes at or above initial share price on any quarterly call observation date
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| Initial share prices: | $67.31 for Intel, $116.60 for Walmart and $67.31 for Morgan Stanley
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| Coupon barriers: | $40.39 for Intel, $69.96 for Walmart and $40.39 for Morgan Stanley, or 60% of initial share prices
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| Barrier levels: | $40.39 for Intel, $69.96 for Walmart and $40.39 for Morgan Stanley, or 60% of initial share prices
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| Pricing date: | Jan. 28
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| Settlement date: | Jan. 31
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| Agents: | Barclays
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| Fees: | 0.35%
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| Cusip: | 06741WFX3
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