Published on 7/29/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.47 million notes due 2015 linked to basket of 13 stocks
By Jennifer Chiou
New York, July 29 – Barclays Bank plc priced $1,465,000 of 0% notes due Aug. 12, 2015 linked to an equally weighted basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Amazon.com, Inc., AMC Networks Inc., CBS Corp., Discovery Communications, Inc., DISH Network Corp., Google Inc., Lions Gate Entertainment Corp., Scripps Networks Interactive, Inc., Time Warner Inc., T-Mobile US, Inc., Twenty-First Century Fox, Inc., Verizon Communications Inc. and Viacom, Inc.
For each $1,000 principal amount of notes, the payout at maturity will be par plus the return multiplied by an adjustment factor of 99.43%. Because of the adjustment factor, investors will be exposed to losses if the basket return is less than about 0.57%.
The final stock prices will be equal to the average of the share prices on the five trading days ending Aug. 7, 2015.
Barclays is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Notes
|
| Underlying stocks: | Amazon.com, Inc., AMC Networks Inc., CBS Corp., Discovery Communications, Inc., DISH Network Corp., Google Inc., Lions Gate Entertainment Corp., Scripps Networks Interactive, Inc., Time Warner Inc., T-Mobile US, Inc., Twenty-First Century Fox, Inc., Verizon Communications Inc. and Viacom, Inc., equally weighted
|
| Amount: | $1,465,000
|
| Maturity: | Aug. 12, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | (a) $1,000 multiplied by (b) one plus basket return multiplied by (c) 99.43%
|
| Final basket level: | Average of basket’s closing levels on the five trading days ending Aug. 7, 2015
|
| Pricing date: | July 25
|
| Settlement date: | July 30
|
| Underwriter: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 0.75%
|
| Cusip: | 06741UGM0
|
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