By Susanna Moon
Chicago, Oct. 3 – Barclays Bank plc priced $636,000 of phoenix autocallable notes due Sept. 30, 2020 linked to the least performing of the common stocks of Marathon Petroleum Corp. and ConocoPhillips, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each stock closes at or above its coupon barrier, 60% of its initial price, on the observation date for that quarter.
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 other than the final date.
The payout at maturity will be par unless either stock finishes below its 60% trigger level, in which case investors will receive par plus the return of the worse performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Marathon Petroleum Corp. (Symbol: MPC) and ConocoPhillips | (Symbol: COP)
|
| Amount: | $636,000
|
| Maturity: | Sept. 30, 2020
|
| Coupon: | 9% per year, payable quarterly if each stock closes at or above 60% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger level; otherwise, par plus return of worse performing stock
|
| Call: | At par plus contingent coupon if stocks close at or above initial prices on any quarterly observation date other than final date
|
| Initial levels: | $55.38 for Marathon and $49.67 for Conoco
|
| Trigger levels: | $33.23 for Marathon and $29.80 for Conoco, 60% of initial levels
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 29
|
| Agent: | Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06744C4P3
|
|
|
|
|
|
|
© 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.
