By Kiku Steinfeld
Chicago, July 6 – Barclays Bank plc priced $1 million of 10.75% autocallable fixed-coupon notes due May 30, 2024 linked to the common stock of Enphase Energy Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is 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 one year.
If the notes are not called, the payout at maturity will be par of $10,000 unless the stock finishes below 65% of its initial level, in which cases investors will receive 70.98744 Enphase shares or the cash value of those shares.
Barclay is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable fixed-coupon notes
|
| Underlying stock: | Enphase Energy Inc.
|
| Amount: | $1 million
|
| Maturity: | May 30, 2024
|
| Coupon: | 10.75%, payable monthly
|
| Price: | Par of $10,000
|
| Call: | At par if stock closes at or above initial level on any quarterly call valuation date after one year
|
| Payout at maturity: | Par unless stock finishes below barrier level, in which case 70.98744 Enphase shares or the cash value
|
| Initial level: | $140.87
|
| Barrier level: | $91.57; 65% of initial level
|
| Pricing date: | May 24
|
| Settlement date: | May 27
|
| Agent: | Barclays
|
| Fees: | 2%
|
| Cusip: | 06741WUZ1
|
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