Published on 3/6/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.5 million 9% autocallables tied to four stocks
By Susanna Moon
Chicago, March 6 – Barclays Bank plc priced $2.5 million of 9% autocallable notes due Aug. 28, 2018 linked to the common stocks of UnitedHealth Group Inc., Aetna Inc., Cigna Corp. and MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any stock finishes below its 65% knock-in level, in which case investors will receive a number of shares of the worst performing stock equal to $1,000 divided by the initial share price, or at the issuer’s option, the cash equivalent.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying stocks: | UnitedHealth Group Inc. (Symbol: UNH), Aetna Inc. (Symbol: AET), Cigna Corp. (Symbol: CI) and MetLife, Inc. (Symbol: MET)
|
| Amount: | $2.5 million
|
| Maturity: | Aug. 28, 2018
|
| Coupon: | 9%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock falls below 65% barrier, in which case number of physical delivery shares
|
| Call: | At par if each stock closes at or above its initial level on any quarterly determination date
|
| Initial prices: | $162.60 for UnitedHealth, $129.73 for Aetna, $147.51 for Cigna and $53.56 for MetLife
|
| Barrier prices: | $105.69 for UnitedHealth, $84.32 for Aetna, $95.88 for Cigna and $34.81 for MetLife; 65% of initial prices
|
| Physical delivery shares: | 6.15006 shares for UnitedHealth, 7.70832 shares for Aetna, 6.77920 shares for Cigna and 18.67065 shares for MetLife
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06741WCD0
|
|
|
|
|
© 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.
