Chicago, April 22 – Barclays Bank plc priced $540,000 of autocallable contingent coupon notes due Jan. 27, 2027 linked to the worst performing of the stocks of Thermo Fisher Scientific, Inc. and Bristol-Myers Squibb Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 10% if each stock closes at or above its coupon barrier level, 65% of its initial level, on the related observation date, in which case any previously unpaid coupons will also be paid.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial level on any quarterly call observation date.
If the notes are not called and each stock finishes at or above its final barrier price, 65% of its initial share price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the laggard stock’s decline, payable in shares or cash at the issuer’s option.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | Thermo Fisher Scientific, Inc. (Ticker: TMO) and Bristol-Myers Squibb Co. (Ticker: BMY)
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| Amount: | $540,000
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| Maturity: | Jan. 27, 2027
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| Contingent coupon: | 10% per year, payable quarterly plus any previously unpaid coupons if each stock closes at or above coupon barrier related observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above its final barrier price, par plus the final coupon; otherwise, investors will be fully exposed to the laggard stock’s decline from its initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above its initial level on any quarterly call observation date
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| Initial levels: | $553.39 for Thermo, $49.57 for Bristol
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| Coupon barriers: | $359.70 for Thermo, $32.22 for Bristol; 65% of initial levels
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| Final barriers: | $359.70 for Thermo, $32.22 for Bristol; 65% of initial levels
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| Physical delivery amounts: | 1.80704 shares for Thermo, 20.17349 shares for Bristol
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Agent: | Barclays
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| Fees: | 3%
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| Cusip: | 06744EDK0
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