By Susanna Moon
Chicago, April 17 – Barclays Bank plc priced $1.5 million of phoenix autocallable notes due April 9, 2024 linked to the least performing of the common stocks of ConocoPhillips and Exxon Mobil, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 8.25% per year if each stock closes at or above its barrier level, 60% of its initial price, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly determination date other than the final date beginning with the second observation date.
The payout at maturity will be par unless any stock finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | ConocoPhillips (Symbol: COP) and Exxon Mobil (Symbol: XOM)
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| Amount: | $1.5 million
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| Maturity: | April 9, 2024
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| Coupon: | 8.25%, payable quarterly if each stock closes at or above its barrier price on quarterly observation date other than the final date beginning with the second observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its barrier price, in which case investors will lose 1% for each 1% decline of worst performer
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| Call: | At par if each stock closes at or above its initial level on any quarterly determination date from
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| Initial prices: | $49.73 for ConocoPhillips, $82.37 for Exxon
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| Barrier prices: | $29.84 for ConocoPhillips, $49.42 for Exxon, 60% of initial prices
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| Pricing date: | April 4
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| Settlement date: | April 7
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| Agent: | Barclays
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| Fees: | 2.85%
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| Cusip: | 06741VRK0
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