New Issue: Barclays prices $3 million autocallable fixed-coupon notes on BofA

By Taylor Fox

New York, Nov. 10 – Barclays Bank plc priced $3 million of autocallable fixed-coupon notes due Sept. 30, 2021 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 9.4% per year and will be payable monthly.

The notes will be automatically called at par of $10,000 if the stock closes at or above its initial level on either March 25, 2021 or June 25, 2021.

If the notes are not called, the payout at maturity will be par unless the stock finishes below its barrier level, 70% of its initial level, in which case the payout will be par minus 1% for every 1% that the index declines from its initial level, payable either in cash or shares.

Barclay is the agent.

Issuer:	Barclays Bank plc
Issue:	Autocallable fixed-coupon notes
Underlying stock:	Bank of America Corp.
Amount:	$3 million
Maturity:	Sept. 30, 2021
Coupon:	9.4%, payable monthly
Price:	Par of $10,000
Call:	Automatically at par if stock closes above initial level on either March 25, 2021 or June 25, 2021
Payout at maturity:	Par unless stock finishes below 70% of initial level, in which case full exposure to decline, payable either in shares or cash
Initial level:	$24.95
Barrier level:	$17.47; 70% of initial level
Pricing date:	Oct. 13
Settlement date:	Oct. 16
Agent:	Barclays
Fees:	1%
Cusip:	06741WKZ2

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