By Kiku Steinfeld
Chicago, Oct. 12 – Barclays Bank plc priced $795,000 of phoenix autocallable notes due Jan. 26, 2023 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 10.45% per year if the ETF closes at or above its coupon barrier price, 70% of its initial price, on the related observation date.
The notes will be called at par if the ETF closes at or above its initial price on any quarterly call observation date.
The payout at maturity will be par unless the ETF finishes below its 70% 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 ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $795,000
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Maturity: | Jan. 26, 2023
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Coupon: | 10.45% payable quarterly if the ETF closes at or above its coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par unless ETF finishes below its barrier price, in which case investors will lose 1% per 1% decline
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Call: | At par if the ETF closes at or above its initial price on any quarterly call observation date
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Initial price: | $82.18
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Coupon barrier: | $57.53; 70% of initial price
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Barrier price: | $57.53; 70% of initial price
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Pricing date: | July 23
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Settlement date: | July 28
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Agent: | Barclays
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Fees: | 2.5%
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Cusip: | 06748W5G4
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