Chicago, March 25 – Barclays Bank plc priced $4.61 million of phoenix autocallable notes due Feb. 6, 2023 linked to Chevron Corp. shares, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.3% if the stock closes at or above the coupon barrier, 65% of the initial share price, on the observation date for that quarter.
The notes will be called at par if Chevron shares close at or above the initial share price on any quarterly observation date after six months.
The payout at maturity will be par unless the stock finishes below the 65% barrier level, in which case investors will be fully exposed to any losses.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Chevron Corp. (Symbol: CVX)
|
| Amount: | $4,605,000
|
| Maturity: | Feb. 6, 2023
|
| Coupon: | 10.3%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Chevron shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | At par if Chevron shares close at or above initial share price on any quarterly observation date after six months
|
| Initial share price: | $86.41
|
| Trigger price: | $56.17, 65% of initial price
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 4
|
| Underwriter: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741WQK9
|
© 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.
