Published on 4/2/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $889,000 17.25% buffer phoenix autocalls tied to stocks
By Susanna Moon
Chicago, April 2 – Barclays Bank plc priced $889,000 of buffered phoenix autocallable notes due March 19, 2021 linked to the common stocks of Qualcomm Inc., Halliburton Co. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 17.25% if each underlying asset closes at or above its 65% 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 call valuation date.
The payout at maturity will be par unless any underlying asset falls by more than 20%, in which case investors will be fully exposed to any losses of the worst performing stock beyond the buffer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered phoenix autocallable notes
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| Underlying asset: | Qualcomm Inc. (Symbol: QCOM), Halliburton Co. (Symbol: HAL) and Nvidia Corp. (Symbol: NVDA)
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| Amount: | $889,000
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| Maturity: | March 19, 2021
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| Coupon: | 17.25% annualized, payable quarterly if each stock closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any asset falls by more than 20%, in which case 1% loss per 1% decline of worst performing stock beyond 20%
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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 the second date
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| Initial levels: | $60.62 for Qualcomm, $45.91 for Halliburton and $250.48 for Nvidia
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| Coupon barriers: | $42.43 for Qualcomm, $32.14 for Halliburton and $175.34 for Nvidia; 70% of initial levels
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | Barclays
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| Fees: | 3.35%
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| Cusip: | 06746X2J1
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