By Wendy Van Sickle
Columbus, Ohio, Jan. 24 – Barclays Bank plc priced $1.07 million of autocallable contingent interest notes due Feb. 7, 2018 linked to the common stock of Eli Lilly and Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9.4% per year if Eli Lilly shares close at or above the trigger level, 80% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if Eli Lilly shares close at or above the initial share price on any quarterly review date other than the final review date.
The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the trigger level, in which case investors will be fully exposed to the share price decline.
Barclays is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Eli Lilly and Co.
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| Amount: | $1.07 million
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| Maturity: | Feb. 7, 2018
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| Issue price: | Par
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| Coupon: | 9.4% annualized, payable quarterly if stock closes at or above 80% trigger level on review date for that quarter
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| Payout at maturity: | Par plus final coupon payment unless stock finishes below trigger level, in which case full exposure to any losses
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any review date other than the final date
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| Initial level: | $76.81
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| Trigger level: | $61.45, 80% of initial level
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 25
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| Agent: | Barclays
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 06741VHL9
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