By Sarah Lizee
Olympia, Wash., March 31 – Barclays Bank plc priced $46.53 million of 0% autocallable market-linked step-up notes due March 27, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 8.25% if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level – 130% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 30%.
If the index declines by up to 15%, the payout will be par.
Investors will be fully exposed to any index decline beyond 15%.
BofA Securities, Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $46,525,260
|
| Maturity: | March 27, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 30%; if the index declines by up to 15%, par; investors will be fully exposed to any index decline beyond 15%
|
| Call: | At par plus 8.25% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 2,630.07
|
| Buffer level: | 2,235.56, 85% of initial level
|
| Step-up value: | 3,419.09, 130% of initial level
|
| Pricing date: | March 26
|
| Settlement date: | April 2
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06747G810
|
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