Published on 7/19/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.5 million buffered autocallables linked to Target, Walgreens
By Wendy Van Sickle
Columbus, Ohio, July 19 – Barclays Bank plc priced $1.5 million of 0% buffered autocallable notes due July 17, 2020 linked to the common stocks of Target Corp. and Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon at an annual rate of 7.25% if each stock closes above its 60% coupon barrier on a semiannual review date. If each underlying stock closes at or above its initial level on any semiannual review date, the notes will be called at par plus and previously unpaid coupon.
If the return of the lesser-performing underlying is at least negative 40%, the payout at maturity will be par. Otherwise, investors will lose 1.66667% for every 1% decline of the lesser-performing underlying beyond 40%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable notes
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| Underlying stocks: | Target Corp., Walgreens Boots Alliance, Inc.
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| Amount: | $1.5 million
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| Maturity: | July 17, 2020
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| Coupon: | 7.25%, payable semiannually if each stock closes above coupon barrier on related review date
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| Price: | Par
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| Payout at maturity: | Par unless either underlying falls by more than 40%, in which case 1.66667% loss per 1% decline of lesser-performing underlying beyond 40%
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| Call: | Automatically at par plus any previously unpaid coupon if each underlying stock closes at or above initial level on any semiannual review date
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| Initial levels: | $53.31 for Target and $78.01 for Walgreens
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| Coupon barriers: | $31.99 for Target and $46.81 for Walgreens; 60% of initial levels
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| Pricing date: | July 14
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| Settlement date: | July 19
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| Agent: | Barclays
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| Fees: | 1%
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| Cusip: | 06744CCJ8
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