New Issue: Barclays prices $2.01 million phoenix autocallables linked to Disney, CBS

By Angela McDaniels

Tacoma, Wash., July 28 – Barclays Bank plc priced $2.01 million of phoenix autocallable notes due Jan. 29, 2019 linked to the lesser performing of the common stock of Walt Disney Co. and the class B common stock of CBS Corp., 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 8% if each stock closes at or above its barrier level, 70% of its initial share price, on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial price on any observation date other than the final one.

The payout at maturity will be par plus the contingent coupon unless either stock finishes below its barrier level, in which case investors will lose 1% for every 1% that the final share price of the worse-performing stock is less than its initial share price or, at the issuer’s option, receive a number of shares of that stock equal to $1,000 divided by that stock’s initial share price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stocks:	Walt Disney Co. (Symbol: DIS) and CBS Corp. (Symbol: CBS)
Amount:	$2,014,000
Maturity:	Jan. 29, 2019
Coupon:	8% per year, payable quarterly if both stocks close at or above their barrier prices on observation date for that quarter
Price:	Par
Payout at maturity:	Par plus contingent coupon unless either stock finishes below barrier level, in which case 1% loss for every 1% that final share price of worse-performing stock is less than initial share price or, at issuer’s option, number of shares of that stock equal to $1,000 divided by that stock’s initial share price
Call:	Automatically at par plus contingent coupon if each stock closes at or above initial price on any observation date other than final one
Initial share prices:	$118.91 for Disney and $53.04 for CBS
Barrier prices:	$83.24 for Disney and $37.13 for CBS; 70% of initial share prices
Pricing date:	July 24
Settlement date:	July 29
Agent:	Barclays
Fees:	2.35%
Cusip:	06741WAZ3

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