By Taylor Fox
New York, Aug. 24 – Barclays Bank plc priced $570,000 of phoenix autocallable notes due May 10, 2022 linked to the common stock of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12.5% if the stock closes at or above its 65% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par plus the coupon unless the stock finishes below 65% of its initial value, in which case investors will be fully exposed to the stock’s decline payable in either shares or cash at the issuer’s option.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying stock: | Alibaba Group Holding Ltd.
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Amount: | $570,000
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Maturity: | May 10, 2022
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Coupon: | 12.5% annualized rate, payable monthly if stock closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par plus coupon unless stock finishes below final barrier level, in which case full exposure to stock’s decline payable in shares or cash at issuer’s option
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Call: | At par plus contingent coupon if stock closes at or above its initial level on any monthly call observation date after six months
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Initial level: | $265.67
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Coupon barrier level: | $172.69, 65% of initial level
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Final barrier level: | $172.69, 65% of initial level
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Pricing date: | Feb. 5
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Settlement date: | Feb. 10
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06741WQH6
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