By William Gullotti
Buffalo, N.Y., March 22 – Barclays Bank plc priced $1.4 million of 11% autocallable fixed-coupon notes due March 17, 2028 linked to the common stock of Albemarle Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
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 one year.
If the notes are not called, the payout at maturity will be par unless the stock finishes below 60% of its initial level, in which cases investors will lose 1% for each 1% of the stock below the initial value.
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: | $1.4 million
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| Maturity: | March 17, 2028
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| Coupon: | 11%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below barrier level, in which case investors lose 1% for each 1% decline from initial level
|
| Call: | At par if stock closes at or above initial level on any quarterly call valuation date after one year
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| Initial level: | $119.89
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| Barrier level: | $71.93, 60% of initial level
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| Pricing date: | March 14
|
| Settlement date: | March 19
|
| Agent: | Barclays
|
| Fees: | 3.1%
|
| Cusip: | 06745QAL3
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