By Wendy Van Sickle
Columbus, Ohio, April 9 – Barclays Bank plc priced $4.05 million of phoenix autocallable notes due March 31, 2021 linked to the common stocks of Target Corp., Halliburton Co. and Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.25% if each underlying stock closes at or above its 50% coupon barrier on the observation date for that month.
The notes will be called automatically at par plus the contingent coupon if each stock closes at or above its initial price on any quarterly call valuation date after six months.
The payout at maturity will be par unless any underlying stock finishes below its 50% barrier price, in which case investors lose 1% for each 1% decline of the least-performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Target Corp., Halliburton Co. and Boeing Co.
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| Amount: | $4.05 million
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| Maturity: | March 31, 2021
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| Coupon: | 11.25% annualized, payable monthly if each stock closes at or above 50% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below 50% barrier price, in which case 1% loss per 1% decline of least-performing stock
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly call valuation date after six months
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| Initial prices: | $70.28 for Target, $47.21 for Halliburton and $328.97 for Boeing
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| Barrier prices: | $35.14 for Target, $23.61 for Halliburton and $164.49 for Boeing; 50% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 29
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| Agent: | Barclays
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| Fees: | 3.4%
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| Cusip: | 06744CZE4
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