New Issue: Barclays prices $2.2 million phoenix autocallables linked to Amazon.com

By Wendy Van Sickle

Columbus, Ohio, June 5 – Barclays Bank plc priced $2.2 million phoenix autocallable notes due Nov. 30, 2020 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if the stock closes at or above its 70% coupon barrier on the related quarterly observation date.

The notes will be called automatically at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly call valuation date after six months.

The payout at maturity will be par unless the stock finishes below its 70% barrier price, in which case investors will lose 1% for each 1% decline below the initial price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stock:	Amazon.com, Inc. (Nasdaq: AMZN)
Amount:	$2.2 million
Maturity:	Nov. 30, 2020
Coupon:	7.5%, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter
Price:	Par
Payout at maturity:	Par if Amazon.com shares finish at or above trigger price; otherwise, par plus stock return
Call:	Automatically at par plus contingent coupon if Amazon.com shares close at or above initial price on a quarterly observation date after six months
Initial share price:	$1,612.87
Coupon barrier/barrier:	$1,129.00, 70% of initial price
Pricing date:	May 29
Settlement date:	May 31
Underwriters:	Barclays
Fees:	2.375%
Cusip:	06746XDC4

© 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.