New Issue: Barclays prices $1.87 million phoenix autocallables linked to three stocks

By Wendy Van Sickle

Columbus, Ohio, Dec. 16 – Barclays Bank plc priced $1.87 million of phoenix autocallable notes due Dec. 12, 2025 linked to the least performing of the common stocks of Procter & Gamble Co., Verizon Communications Inc. and General Mills, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 10.5% if each stock closes at or above its coupon barrier, 60% of its initial share price, on the observation date for that quarter.

Beginning in June 2020 and ending in September 2025, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly observation date.

The payout at maturity will be par plus any coupon unless any stock finishes below its barrier level, 60% of its initial share price, in which case investors will be exposed to the decline of the worst-performing stock from its initial share price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stocks:	Procter & Gamble Co., Verizon Communications Inc. and General Mills, Inc.
Amount:	$1,868,000
Maturity:	Dec. 12, 2025
Coupon:	10.5%, payable quarterly if each stock closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	Par unless least-performing stock finishes below barrier level, in which case 1% loss for each 1% decline of least-performing stock from initial share price
Call:	Beginning in June 2020 and ending in September 2025, automatically at par if each stock closes at or above initial share price on any quarterly observation date
Initial share prices:	$124.27 for P&G, $61.23 for Verizon and $53.24 for General Mills
Coupon barriers:	$74.56 for P&G, $36.74 for Verizon and $31.94 for General Mills, or 60% of initial share prices
Barrier levels:	$74.56 for P&G, $36.74 for Verizon and $31.94 for General Mills, or 60% of initial share prices
Pricing date:	Dec. 10
Settlement date:	Dec. 13
Agents:	Barclays
Fees:	1%
Cusip:	06747NVW1

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