By Wendy Van Sickle
Columbus, Ohio, May 21 – Barclays Bank plc priced $1.4 million of phoenix autocallable notes due May 22, 2025 linked to the common shares of Travelers Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if the stock closes at or above its 55% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless the stock finishes below 55% of its initial value, in which case investors will be fully exposed to the decline of the stock.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying shares: | Travelers Cos., Inc.
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Amount: | $1.4 million
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Maturity: | May 22, 2025
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Coupon: | 11% annualized, payable quarterly if the stock closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below final barrier, in which case investors will be fully exposed to the decline
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Call: | At par plus contingent coupon if the stock closes at or above initial level on any quarterly call observation date after one year
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Initial level: | $95.30
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Coupon barrier: | $52.42, 55% of initial level
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Final barrier: | $52.42, 55% of initial level
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Pricing date: | May 18
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Settlement date: | May 21
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Agent: | Barclays
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Fees: | 3.35%
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Cusip: | 06741WGX2
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