Published on 10/4/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $454,000 phoenix autocallable notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – Barclays Bank plc priced $454,000 of phoenix autocallable notes due Oct. 2, 2018 linked to the least performing of the common stocks of ConocoPhillips, Chevron Corp. and Marathon Oil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at a rate of 11% per year if each stock closes at or above its barrier price, 60% of its initial price, on the related monthly observation date.
The notes will be called at par if each stock closes at or above its initial level on any quarterly determination date after Dec. 27, 2016.
The payout at maturity will be par unless any stock finishes below its 60% 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: | Phoenix autocallable notes
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| Underlying stocks: | ConocoPhillips (Symbol: COP), Chevron Corp. (Symbol: CVX) and Marathon Oil Corp. (Symbol: MRO)
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| Amount: | $454,000
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| Maturity: | Oct. 2, 2018
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| Coupon: | 11%, payable monthly if each stock closes at or above its barrier price on related monthly observation date
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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 worst performer
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| Call: | At par if each stock closes at or above its initial level on any quarterly determination date after Dec. 27, 2016
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| Initial prices: | $39.43 for ConocoPhillips, $98.98for Chevron, $14.06 for Marathon
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| Barrier prices: | $23.66 for ConocoPhillips, $59.39for Chevron, $8.44 for Marathon; 60% of initial prices
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 30
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| Agent: | Barclays
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| Fees: | 3%
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| Cusip: | 06741VAK8
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