By Kiku Steinfeld
Chicago, May 5 – Barclays Bank plc priced $144,000 of phoenix autocallable notes due June 30, 2022 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.5% if the fund closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any monthly call observation date after three months.
The payout at maturity will be par unless the fund finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the fund.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying fund: Energy Select Sector SPDR fund
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Amount: | $144,000
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Maturity: | July 21, 2022
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Coupon: | 11.5% annualized, payable monthly if fund closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par unless fund finishes below final barrier, in which case 1% loss for each 1% decline of fund
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Call: | At par plus contingent coupon if fund closes at or above initial level on any monthly call observation date after three months
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Initial level: | $48.40
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Coupon barrier: | $33.88; 70% of initial level
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Final barrier: | $33.88; 70% of initial level
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Pricing date: | April 16
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Settlement date: | April 21
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Agent: | Barclays
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Fees: | 0.675%
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Cusip: | 06748EGX5
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