By Devika Patel
Knoxville, Tenn., July 19 – Barclays Bank plc priced $1.11 million of phoenix autocallable notes due July 19, 2018 linked to the common stock of Gilead Sciences, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.35% if Gilead shares close at or above the coupon barrier price, 75% of the initial share price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless Gilead shares finish below the 75% barrier level, in which case investors will lose 1% for each 1% decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | Gilead Sciences, Inc. (Ticker: GILD)
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| Amount: | $1.11 million
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| Maturity: | July 19, 2018
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| Coupon: | 10.35%, payable quarterly if stock closes at or above coupon barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if Gilead shares finish at or above barrier level; otherwise, 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if Gilead shares close at or above initial price on any quarterly observation date other than the final date
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| Initial share price: | $86.67
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| Barrier levels: | $65.00, 75% of initial price
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| Pricing date: | July 15
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| Settlement date: | July 20
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06741V6N7
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