By Kiku Steinfeld
Chicago, May 6 – Barclays Bank plc priced $1.42 million of phoenix autocallable notes due April 19, 2024 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 quarterly coupon at an annual rate of 12.25% if the fund closes at or above its 80% 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 quarterly call observation date after six months.
The payout at maturity will be par unless the fund finishes below 80% 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
|
| Issue: | Phoenix autocallable notes
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $1,420,000
|
| Maturity: | April 19, 2024
|
| Coupon: | 12.25% annualized, payable quarterly if fund closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless fund finishes below final barrier, in which case 1% loss for each 1% decline of fund
|
| Call: | At par plus contingent coupon if fund closes at or above initial level on any quarterly call observation date after six months
|
| Initial level: | $48.40
|
| Coupon barrier: | $38.72; 80% of initial level
|
| Final barrier: | $38.72; 80% of initial level
|
| Pricing date: | April 16
|
| Settlement date: | April 21
|
| Agent: | Barclays
|
| Fees: | 2%
|
| Cusip: | 06748EKM4
|
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