Published on 10/30/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.74 million phoenix autocallables tied to four stocks
By Susanna Moon
Chicago, Oct. 30 – Barclays Bank plc priced $1.74 million of phoenix autocallable notes due Oct. 22, 2020 linked to the lesser performing of the common stocks of Aetna Inc., Prudential Financial, Inc. and Travelers Cos., Inc. and the class B common stock of Berkshire Hathaway Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.85% if each stock closes at or above its 65% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any observation date other than the final date.
The payout at maturity will be par unless any stock finishes below its 65% barrier level, in which case investors will be fully exposed to any losses to the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Aetna Inc. (Symbol: AET), Prudential Financial, Inc. (Symbol: PRU), Travelers Cos., Inc. (Symbol: TRV) and Berkshire Hathaway Inc. (Symbol: BRK)
|
| Amount: | $1.74 million
|
| Maturity: | Oct. 30, 2020
|
| Coupon: | 8.85% per year, payable monthly if each stock closes at or above 65% coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any stock finishes 65% barrier, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each fund closes at or above initial level on any review date other than final date
|
| Initial levels: | $160.12 for Aetna, $111.25 for Prudential, $131.78 for Travelers and $188.71 for Berkshire
|
| Barrier levels: | $104.08 for Aetna, $72.31 for Prudential, $85.66 for Travelers and $122.66 for Berkshire; 65% of initial levels
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06744CH79
|
|
|
|
|
© 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.
