Published on 11/20/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.05 million phoenix autocallable notes on Amazon, Alibaba
By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – Barclays Bank plc priced $2.05 million of phoenix autocallable notes due Nov. 20, 2024 linked to the lesser performing of the shares of Amazon.com, Inc. and Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 8% per year if each stock closes at or above its coupon barrier price, 60% of its initial price, on the related observation date.
The notes will be called at par if each stock closes at or above its initial price on any quarterly call observation date after one year.
The payout at maturity will be par unless either stock finishes below its 60% knock-in 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: | Phoenix autocallable notes
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| Underlying stocks: | Amazon.com, Inc. and Alibaba Group Holding Ltd.
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| Amount: | $2.05 million
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| Maturity: | Nov. 20, 2024
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| Coupon: | 9% payable quarterly if each stock closes at or above its coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below knock-in price, in which case investors will lose 1% for each 1% decline of worst performer
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| Call: | At par if each stock closes at or above its initial price on any quarterly call observation date after one year
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| Initial prices: | $1,739.49 for Amazon, $185.49 for Alibaba
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| Coupon barriers: | $1,043.69 for Amazon, $111.29 for Alibaba; 60% of initial prices
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| Knock-in prices: | $1,043.69 for Amazon, $111.29 for Alibaba; 60% of initial prices
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 20
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| Agent: | Barclays
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| Fees: | 3.35%
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| Cusip: | 06747NQX5
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