By Susanna Moon
Chicago, July 19 – Barclays Bank plc priced $1.12 million of phoenix autocallable notes due July 19, 2018 linked to the American Depositary Shares representing the common shares of Alibaba Group Holding Ltd., according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.1% if Alibaba shares close at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above its initial level on any observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless Alibaba shares finish below its 75% barrier level, in which case investors will fully exposed to any losses.
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. (Symbol: BABA)
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| Amount: | $1,121,000
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| Maturity: | July 19, 2018
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| Coupon: | 11.1%, payable quarterly if shares close at or above 75% coupon barrier on observation date for that quarter
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| Price: | Par
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| Call: | At par plus contingent coupon if shares close at or above initial level on any observation date other than final date
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| Payout at maturity: | Par plus final contingent coupon unless shares finish below barrier level, in which case full exposure to any losses
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| Initial level: | $81.25
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| Barrier level: | $60.94, 75% of initial level
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| Pricing date: | July 15
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| Settlement date: | July 20
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06741V6P2
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