By Kiku Steinfeld
Chicago, Dec. 17 – Barclays Bank plc priced $1.38 million of phoenix autocallable notes due Jan. 13, 2022 linked to the common stock of Schlumberger NV, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.5% if the stock closes at or above its 66% coupon barrier on a related observation date.
The notes will be called at par if the shares close at or above the initial share price on any monthly observation date after six months.
The payout at maturity will be par unless the stock finishes below its final barrier, 66% of its initial value, in which case investors will receive a fixed number of Schlumberger shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Schlumberger NV
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| Amount: | $1,377,000
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| Maturity: | Jan. 13, 2022
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| Coupon: | 11.5% annualized, payable monthly if stock closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless stock finishes below final barrier, in which case 42 Schlumberger shares or cash equivalent
|
| Call: | At par if shares close at or above initial share price on any monthly observation date after six months
|
| Initial level: | $23.37
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| Coupon barrier: | $15.42, 66% of initial level
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| Final barrier: | $15.42, 66% of initial levels
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| Pricing date: | Dec. 9
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| Settlement date: | Dec. 14
|
| Agent: | Barclays
|
| Fees: | 2.15%
|
| Cusip: | 06741WME7
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