By Taylor Fox
New York, Feb. 16 – Barclays Bank plc priced $615,000 of buffered autocallable contingent coupon notes due Jan. 12, 2023 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an 8.75% annualized rate if the stock closes at or above its 70% coupon barrier value on the related observation date. Previously unpaid coupons will also be paid.
The notes will be callable at par if the stock closes at or above its initial level on any quarterly call date starting in April.
The payout at maturity will be par unless the stock finishes below 70% of initial level, in which case investors will lose 1.42857% for each 1% decline beyond 30%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
|
| Underlying stock: | Alibaba Group Holding Ltd.
|
| Amount: | $615,000
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| Maturity: | Jan. 12, 2023
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| Contingent coupon: | 8.75% payable quarterly if stock closes at or above 70% of initial level on related observation date; previously unpaid coupons are also paid
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below 70% of initial level; 1.42857% loss for each 1% decline beyond buffer
|
| Call: | At par if stock closes at or above initial level on any quarterly observation date starting in April
|
| Initial stock level: | $236.19
|
| Buffer level: | $165.33, 70% of initial level
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 14
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| Agent: | Barclays
|
| Fees: | 1.45%
|
| Cusip: | 06747QWH6
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