By Sarah Lizee
Olympia, Wash., Oct. 10 – Barclays Bank plc priced $2 million of phoenix autocallable notes due Oct. 11, 2023 linked to the least-performing of the Euro Stoxx Banks index and the iShares Latin America 40 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 13.75% if each asset closes at or above the coupon barrier level – 65% of the initial level – on the related quarterly observation date.
The notes will be called at par plus the contingent coupon if each asset closes at or above the initial level on any observation date after one year.
The payout at maturity will be par plus the contingent coupon unless the least-performing asset finishes below its initial level and closes below the 65% knock-in level on any day during the life of the notes, in which case investors will lose 1% for each 1% decline of the least-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying assets: | Euro Stoxx Banks index and iShares Latin America 40 ETF
|
| Amount: | $2 million
|
| Maturity: | Oct. 11, 2023
|
| Coupon: | 13.75%, payable quarterly if each asset closes at or above coupon barrier on related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless least-performing asset finishes below initial level and ever closes below knock-in level, in which case 1% loss for each 1% decline of least-performing asset
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any observation date after one year
|
| Initial levels: | 105.04 for index, 105.04 for ETF
|
| Coupon barriers: | 68.28 for index, $21.18 for ETF; 65% of initial levels
|
| Knock-in levels: | 68.28 for index, $21.18 for ETF; 65% of initial levels
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 11
|
| Agents: | Barclays
|
| Fees: | None
|
| Cusip: | 06746XSA2
|
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