Published on 2/6/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $904,000 phoenix autocallable notes on three stocks
By Sarah Lizee
Olympia, Wash., Feb. 6 – Barclays Bank plc priced $904,000 of phoenix autocallable notes due Feb. 9, 2023 linked to the least performing of the common stocks of Amazon.com, Inc., Boeing Co. and Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 15.5% if each stock closes at or above its 65% coupon barrier on the observation date for that period.
After six months, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly observation date prior to maturity.
The payout at maturity will be par unless any stock finishes below its 60% barrier, in which case investors will be fully exposed to the decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Amazon.com, Inc., Boeing Co. and Alibaba Group Holding Ltd.
|
| Amount: | $904,000
|
| Maturity: | Feb. 9, 2023
|
| Coupon: | 15.5%, payable monthly if each asset closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless least-performing asset finishes below barrier level, in which case 1% loss for each 1% decline of least-performing asset
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any observation date after six months
|
| Initial levels: | $1,633.31 for Amazon, $397.00 for Boeing, $166.70 for Alibaba
|
| Coupon barriers: | $1,061.65 for Amazon, $258.05 for Boeing, $108.36 for Alibaba; 65% of initial levels
|
| Barrier levels: | $979.99 for Amazon, $238.20 for Boeing, $100.02 for Alibaba; 60% of initial levels
|
| Pricing date: | Feb. 4
|
| Settlement date: | Feb. 11
|
| Agents: | Barclays
|
| Fees: | 2.65%
|
| Cusip: | 06747MD94
|
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