Published on 6/1/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.5 million 8.5% coupon autocalls on four tech stocks
By Susanna Moon
Chicago, June 1 – Barclays Bank plc priced $2.5 million of 8.5% autocallable notes due May 27, 2021 linked to the least performing of the common stocks of Amazon.com Inc., Facebook, Inc., Alphabet, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date.
The payout at maturity will be par unless any underlying asset finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | Amazon.com Inc. (Symbol: AMZN), Facebook, Inc. (Symbol: FB), Alphabet, Inc. (Symbol: GOOG) and Netflix, Inc. (Symbol: NFLX)
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| Amount: | $2,499,000
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| Maturity: | May 27, 2021
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| Coupon: | 8.5% annualized, payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any asset finishes below 60% trigger, in which case 1% loss per 1% decline of the worst performing stock
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly call valuation date from August 2018 through February 2021
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| Initial levels: | $1,603.07 for Amazon, $185.93 for Facebook, $1,079.24 for Alphabet and $349.29 for Netflix
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| Trigger levels: | $961.84 for Amazon, $111.56 for Facebook, $112.89 for Alphabet and $647.54 for Netflix, 60% of initial levels
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| Pricing date: | May 24
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| Settlement date: | May 30
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| Agent: | Barclays
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| Fees: | 3.25%
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| Cusip: | 06746XAD5 / US06746XAD57
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