Published on 4/18/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.63 million 11.4% contingent income autocalls on stocks
By Susanna Moon
Chicago, April 18 – Barclays Bank plc priced $4.63 million of contingent income autocallable securities due April 16, 2019 linked to the worse performing of the common stocks of Apple Inc. 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 11.4% if each underlying stock closes at or above its 60% coupon barrier on the determination date that quarter.
The notes will be called at par if each stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.
Barclays is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying assets: | Apple Inc. (Symbol: AAPL), Nvidia Corp. (Symbol: NVDA)
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| Amount: | $4,627,000
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| Maturity: | April 16, 2019
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| Coupon: | 11.4% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing stock
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| Call: | At par if each stock closes at or above initial level on any determination date other than the final date
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| Initial levels: | $172.44 for Apple, $226.24 for Nvidia
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| Downside thresholds: | $103.464 for Apple, $135.744 for Nvidia, 60% of initial levels
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| Pricing date: | April 11
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| Settlement date: | April 16
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| Agent: | Barclays with Morgan Stanley Wealth Management as a distributor
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| Fees: | 1.25%
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| Cusip: | 06746R734
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