Published on 11/1/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.23 million of autocallable notes tied to four stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 1 – Barclays Bank plc priced $4.23 million of 10.5% autocallable notes due Oct. 31, 2019 linked to the least performing of the common stocks of Facebook, Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc., 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 above its initial level on any quarterly call valuation date.
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: | Autocallable notes
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Underlying stocks: | Facebook, Inc. (Symbol: FB), Amazon.com, Inc. (Symbol: AMZN), Netflix, Inc. (Symbol: NFLX) and Alphabet Inc. (Symbol: GOOG)
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Amount: | $4,228,000
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Maturity: | Oct. 31, 2019
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Coupon: | 10.5%, 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
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Initial prices: | $131.04 for Facebook, $822.59 for Amazon, $126.97 for Netflix, $799.07 for Alphabet
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Barrier prices: | $78.62 for Facebook, $493.55 for Amazon, $76.18 for Netflix, $479.44 for Alphabet; 60% of initial prices
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | Barclays
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Fees: | 4%
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Cusip: | 06741VCB6
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