Published on 3/20/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $747,000 17.85% phoenix autocalls tied to three stocks
By Susanna Moon
Chicago, March 20 – Barclays Bank plc priced $747,000 of buffered phoenix autocallable notes due March 7, 2022 linked to American Depositary Shares representing the ordinary shares of Alibaba Group Holding Ltd. and the common stocks of Amazon.com, Inc. and Splunk Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 17.85% if each underlying asset closes at or above its 65% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any call valuation date.
The payout at maturity will be par unless any underlying asset falls by more than 40%, in which case investors will be fully exposed to any losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered phoenix autocallable notes
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| Underlying asset: | Alibaba Group Holding Ltd. (Symbol: BABA), Amazon.com, Inc. (Symbol: AMZN) and Splunk Inc. (Symbol: SPLK)
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| Amount: | $747,000
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| Maturity: | March 7, 2022
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| Coupon: | 17.85% annualized, payable monthly if each stock closes at or above 65% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any asset falls by more than 40%, in which case 1% loss per 1% decline
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any call valuation date other than the final date beginning with sixth date
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| Call option: | At par on any interest payment date
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| Initial levels: | $179.76 for Alibaba, $1,500.25 for Amazon, $102.32 for Splunk
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| Coupon barriers: | $116.84 for Alibaba, $975.16 for Amazon, $66.51 for Splunk; 65% of initial levels
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| Trigger levels: | $107.86 for Alibaba, $900.15 for Amazon, $61.39 for Splunk; 60% of initial levels
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| Pricing date: | March 2
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| Settlement date: | March 9
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| Agent: | Barclays
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| Fees: | 2.65%
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| Cusip: | 06741WDY3
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