Published on 12/5/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.32 million 10.25% autocallables tied to four stocks
By Susanna Moon
Chicago, Dec. 5 – Barclays Bank plc priced $4.32 million of 10.25% autocallable notes due Nov. 29, 2019 linked to the least performing of the class A common stock of Facebook, Inc. and the common stocks of Amazon.com, Inc., Netflix, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each underlying stock closes at or above its initial level on any quarterly call valuation date.
The payout at maturity will be par unless any stock finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worst performing stock.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underlying stocks: | Facebook, Inc. (Symbol: FB), Amazon.com, Inc. (Symbol: AMZN), Netflix, Inc. (Symbol: NFLX) and Alphabet Inc. (Symbol: GOOG)
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Amount: | $4,315,000
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Maturity: | Nov. 29, 2019
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Coupon: | 10.25%, payable monthly
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Price: | Par
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Payout at maturity: | If each stock finishes at or above 60% barrier level, par; otherwise, full exposure to any losses of worst performing stock
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Call: | At par if each stock closes at or above its initial level on any quarterly call valuation date
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Initial levels: | $120.41 for Facebook, $766.77 for Amazon.com, $116.93 for Netflix and $768.24 for Alphabet
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Barrier levels: | $72.25 for Facebook, $460.06 for Amazon.com, $70.16 for Netflix and $460.94 for Alphabet; 60% of initial levels
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Pricing date: | Nov. 28
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Settlement date: | Nov. 30
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Agent: | Barclays
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Fees: | 4%
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Cusip: | 06741VDL3
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