Published on 8/31/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $315,000 autocallable notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – Barclays Bank plc priced $315,000 of 12% autocallable notes due Aug. 30, 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 if each stock closes at or above its initial level on any quarterly determination date beginning on Nov. 27.
The payout at maturity will be par unless any stock finishes below its 50% barrier level, in which case investors will lose 1% for each 1% decline 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: | Marathon Oil Corp., Southwestern Energy Co. and Valero Energy Corp.
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Amount: | $315,000
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Maturity: | Aug. 30, 2019
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Coupon: | 12%, payable monthly
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Price: | Par of $1,000
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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
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Call: | At par if each stock closes at or above its initial level on any quarterly determination date beginning Nov. 27
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Initial share prices: | $10.92 for Marathon, $5.36 for Southwestern and $68.42 for Valero
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Barrier levels: | $5.46 for Marathon, $2.68 for Southwestern and $34.21 for Valero; 50% of initial share prices
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agent: | Barclays
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Fees: | 3%
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Cusip: | 06744CEJ6
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