By William Gullotti
Buffalo, N.Y., July 20 – Barclays Bank plc priced $4.8 million of buffered autocallable contingent coupon notes due July 11, 2024 linked to the shares of Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at a 15.65% annualized rate if the stock closes at or above its 80% coupon barrier value on the related observation date.
The notes will be called automatically at par plus the coupon if the stock closes at or above its initial share price on April 8, 2024.
If the notes are not called and the stock finishes at or above its 90% buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% that the stock declines beyond 10%, payable as cash or an equivalent number of shares at the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable contingent coupon notes
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| Underlying stock: | Qualcomm Inc.
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| Amount: | $4.8 million
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| Maturity: | July 11, 2024
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| Contingent coupon: | 15.65% per year, payable monthly if the stock closes at or above coupon barrier on the related observation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if stock finishes at or above buffer level; otherwise, lose 1% for each 1% decline beyond 10%, payable as cash or an equivalent number of shares at the issuer’s option
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| Call: | At par plus coupon if stock closes at or above initial share price on April 8, 2024
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| Initial share price: | $115.22
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| Coupon barrier: | $92.18; 80% of initial share price
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| Buffer level: | $103.70; 90% of initial share price
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| Pricing date: | July 6
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| Settlement date: | July 11
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| Agent: | Barclays
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| Fees: | 0.35%
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| Cusip: | 06741W5Y2
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