By Susanna Moon
Chicago, July 28 – Barclays Bank plc priced $1.2 million of phoenix autocallable notes due July 25, 2019 linked to the least performing of the American Depositary Shares of Alibaba Group Holding Ltd. and the common stocks of Bank of New York Mellon Corp. and Oasis Petroleum 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 25% 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 receive a number of shares of the worst performing stock equal to $1,000 divided by the initial share price.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Alibaba Group Holding Ltd. (Symbol: BABA), Bank of New York Mellon Corp. (Symbol: BK) and Oasis Petroleum Inc. (Symbol: OAS)
|
| Amount: | $1 million
|
| Maturity: | July 25, 2019
|
| Coupon: | 25% per year, payable quarterly if each stock closes at or above 60% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below barrier level, in which case number of shares of worst performing stock – 6.58371 Alibaba shares, 18.74063 Bank of New York shares or 133.51135 Oasis shares
|
| Call: | At par if each stock closes at or above initial share price on any quarterly determination date
|
| Initial levels: | $151.89 for Alibaba, $53.36 for Bank of New York and $7.49 for Oasis
|
| Barrier levels: | $91.13 for Alibaba, $32.02 for Bank of New York and $4.49 for Oasis; 60% of initial levels
|
| Pricing date: | July 21
|
| Settlement date: | July 28
|
| Agent: | Barclays
|
| Fees: | 2.25%
|
| Cusip: | 06741WCQ1
|
|
|
|
|
© 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.
