Published on 7/10/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $683,000 autocallable notes tied to three energy stocks
By Devika Patel
Knoxville, Tenn., July 10 – Barclays Bank plc priced $683,000 of 14.5% autocallable notes due June 28, 2019 linked to the least performing of the common stocks of Marathon Oil Corp., Southwestern Energy Co. and Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the coupon if each stock closes at or above its initial price on Sept. 27, Dec. 27, March 27, 2018, June 27, 2018, Sept. 26, 2018, Dec. 26, 2018 or March 27, 2019.
The payout at maturity will be par unless any stock finishes below its 50% barrier price, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial price.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
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| Underlying stocks: | Marathon Oil Corp. (Symbol: MRO), Southwestern Energy Co. (Symbol: SWN) and Valero Energy Corp. (Symbol: VLO)
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| Amount: | $683,000
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| Maturity: | June 28, 2019
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| Coupon: | 14.5%, payable monthly
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any stock finishes below its barrier price, in which case investors will lose 1% for each 1% decline of the worst performing stock from initial price
|
| Call: | At par plus the coupon if each stock closes at or above its initial price on Sept. 27, Dec. 27, March 27, 2018, June 27, 2018, Sept. 26, 2018, Dec. 26, 2018 or March 27, 2019
|
| Initial prices: | $11.35 for Marathon, $5.80 for Southwestern, $66.81 for Valero
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| Barrier prices: | $5.68 for Marathon, $2.90 for Southwestern, $33.41 for Valero; 50% of initial prices
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| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06741VXS6
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