By Wendy Van Sickle
Columbus, Ohio, Dec. 18 – Royal Bank of Canada priced $625,000 of phoenix autocallable notes with memory coupon due Jan. 2, 2020 linked to Pioneer Natural Resources Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its 67.08% coupon barrier on the observation date for that quarter, plus any previously unpaid contingent interest payments.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its 67.08% trigger level, in which case investors will lose 1.490757% for every 1% loss below the trigger level.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes with memory coupon
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| Underlying asset: | Pioneer Natural Resources Co.
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| Amount: | $625,000
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| Maturity: | Jan. 2, 2020
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| Coupon: | 10% annualized, payable quarterly if stock closes at or above 67.08% coupon barrier on observation date for that quarter plus any previously unpaid coupons
|
| Price: | Par
|
| Call: | At par if stock closes at or above initial level on any review date other than the final date
|
| Payout at maturity: | Par unless stock finishes below 67.08% trigger, in which case 1.490757% loss per 1% decline below trigger
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| Initial level: | $137.14
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| Coupon barrier/trigger: | $91.99, 67.08% of initial level
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| Pricing date: | Dec. 14
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| Settlement date: | Dec. 19
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 78013XUL0
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