Published on 12/11/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $955,000 three-year phoenix autocallables tied to stocks
By Susanna Moon
Chicago, Dec. 11 – Barclays Bank plc priced $955,000 of phoenix autocallable notes due Dec. 5, 2019 linked to the least performing of the common stocks of Visa Inc., Mastercard Inc. and American Express Co, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any observation date other than the final date.
The payout at maturity will be par unless any stock finishes below its 70% barrier level, in which case investors will be fully exposed to any losses to the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Visa Inc. (Symbol: V), Mastercard Inc. (Symbol: MA) and American Express Co. (Symbol: AXP)
|
| Amount: | $955,000
|
| Maturity: | Dec. 5, 2019
|
| Coupon: | 7% annualized, payable quarterly if each stock closes at or above 70% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any stock finishes 70% barrier, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any observation date other than final date
|
| Initial levels: | $113.36 for Visa, $154.19 for Mastercard and $95.28 for American Express
|
| Barrier levels: | $79.35 for Visa, $107.93 for Mastercard and $66.70 for American Express; 70% of initial levels
|
| Pricing date: | Nov. 28
|
| Settlement date: | Dec. 5
|
| Agent: | Barclays
|
| Fees: | 2.2%
|
| Cusip: | 06741WDH0
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
