Published on 6/28/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $720,000 phoenix autocallables on Visa, Mastercard, Amex
By Marisa Wong
Morgantown, W.Va., June 28 – Barclays Bank plc priced $720,000 of phoenix autocallable notes due June 28, 2021 linked to the least performing of the common stocks of Visa Inc., Mastercard Inc. and American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each underlying stock closes at or above its 65% coupon barrier on the related quarterly observation date.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial price on any quarterly observation date prior to maturity.
The payout at maturity will be par unless any underlying stock finishes below its 65% barrier, in which case investors will be fully exposed to any losses of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Visa Inc. (Symbol: V), Mastercard Inc. (Symbol: MA) and American Express Co. (Symbol: AXP)
|
| Amount: | $720,000
|
| Maturity: | June 28, 2021
|
| Coupon: | 8%, payable each quarter that each stock closes at or above its barrier price on related quarterly observation date
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any stock finishes below its barrier price, in which case investors will lose 1% for each 1% decline of worst performer
|
| Call: | At par if each stock closes at or above its initial price on any quarterly observation date other than the final date
|
| Initial prices: | $134.53 for Visa, $200.78 for Mastercard, $96.63 for American Express
|
| Barrier prices: | $87.44 for Visa, $130.51 for Mastercard, $62.81 for American Express; 65% of initial prices
|
| Pricing date: | June 21
|
| Settlement date: | June 28
|
| Agent: | Barclays
|
| Fees: | 2.4%
|
| Cusip: | 06746XFV0
|
|
|
© 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.
