Published on 5/27/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $964,000 10% autocallables linked to three oil stocks
By Angela McDaniels
Tacoma, Wash., May 27 – Barclays Bank plc priced $964,000 of 10% autocallable notes due May 30, 2019 linked to the least performing of the common stocks of ConocoPhillips, Chevron Corp. and Marathon Oil Corp., according to a 424B2 filing with the Notes and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial price on any quarterly call valuation date.
The payout at maturity will be par unless any stock finishes below its barrier price, 50% of its initial share price, in which case investors will receive par minus 1% for every 1% that the worst-performing stock declines.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underlying stocks: | ConocoPhillips (Symbol: COP), Chevron Corp. (Symbol: CVX) and Marathon Oil Corp. (Symbol: MRO)
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Amount: | $964,000
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Maturity: | May 30, 2019
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Coupon: | 10%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below barrier price, in which case full exposure to decline of worst-performing stock
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Call: | Automatically at par if each stock closes at or above initial price on any quarterly call valuation date
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Initial share prices: | $43.46 for ConocoPhillips, $100.19 for Chevron and $13.02 for Marathon Oil
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Barrier prices: | $21.73 for ConocoPhillips, $50.10 for Chevron and $6.51 for Marathon Oil; 50% of initial share prices
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Pricing date: | May 24
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Settlement date: | May 27
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Agent: | Barclay
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Fees: | 4%
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Cusip: | 06741V2Q4
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