By William Gullotti
Buffalo, N.Y., Aug. 16 – Barclays Bank plc priced $1.5 million of 9.75% autocallable fixed-coupon notes due June 21, 2022 linked to the common stock of Albemarle Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if the stock closes at or above its initial level on any quarterly call valuation date after six months.
If the notes are not called, the payout at maturity will be par unless the stock finishes below 70% of its initial level, in which cases investors will receive a number of shares equal to $10,000 divided by that stock’s initial share price or the cash equivalent at the issuer’s option.
Barclay is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed-coupon notes
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| Underlying stock: | Albemarle Corp.
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| Amount: | $1.5 million
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| Maturity: | June 21, 2022
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| Coupon: | 9.75%, payable monthly
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| Price: | Par of $10,000
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| Payout at maturity: | Par unless stock finishes below barrier level, in which case investors will receive 60.50339 shares or the cash equivalent at the issuer’s option
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| Call: | At par if stock closes at or above initial level on any quarterly call valuation date after six months
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| Initial level: | $165.28
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| Barrier level: | $115.70, 70% of initial level
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| Pricing date: | June 16
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| Settlement date: | June 21
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| Agent: | Barclays
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| Fees: | 1%
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| Cusip: | 06741WWG1
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