By Kiku Steinfeld
Chicago, Oct. 29 – Barclays Bank plc priced $5 million of buffered autocallable contingent coupon notes due Oct. 28, 2021 linked to the common stock of DraftKings Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at a 31% annualized rate if the stock closes at or above its 75% coupon barrier value on the related observation date.
The notes will be callable at par if the stock closes at or above its initial level on any quarterly call date starting in April.
The payout at maturity will be par unless the stock finishes below 75% of initial level, in which case investors will lose 1% for each 1% decline beyond 25%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable contingent coupon notes
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| Underlying stock: | DraftKings Inc.
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| Amount: | $5 million
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| Maturity: | Oct. 28, 2021
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| Contingent coupon: | 31% payable quarterly if stock closes at or above 75% of initial level on related observation date
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| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below 75% of initial level; 1% loss for each 1% decline beyond 25%
|
| Call: | At par if stock closes at or above initial level on any quarterly observation date starting in April
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| Initial stock level: | $42.7387
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| Buffer level: | $32.05, 75% of initial levels
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| Pricing date: | Oct. 22
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| Settlement date: | Oct. 27
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| Agent: | Barclays
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| Fees: | 1.7%
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| Cusip: | 06747QNC7
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