By William Gullotti
Buffalo, N.Y., June 29 – Barclays Bank plc priced $8.22 million of 0% autocallable market-linked step-up notes due June 28, 2024 linked to the iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 9.5% if the ETF closes at or above its initial level on any annual observation date.
If the ETF finishes above the step-up level – 135% of the initial level – the payout at maturity will be par of $10 plus the ETF gain.
If the ETF gains by up to the step-up level, the payout will be par plus the step-up payment of 35%.
Investors will be exposed to any ETF decline.
BofA Securities, Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying fund: | iShares Global Clean Energy ETF
|
| Amount: | $8,224,430
|
| Maturity: | June 28, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the ETF finishes above the step-up level, par plus the ETF gain; if the ETF gains up to the step-up level, par plus 35%; full exposure to any ETF decline
|
| Call: | At par plus 9.5% per year if the ETF closes at or above its initial level on any annual observation date
|
| Initial level: | $22.98
|
| Step-up value: | $31.02; 135% of initial level
|
| Pricing date: | June 24
|
| Settlement date: | July 1
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06747T549
|
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