By Wendy Van Sickle
Columbus, Ohio, June 12 – Barclays Bank plc priced $1.65 million of 0% bearish autocallable notes due June 9, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called quarterly after six months at par plus a 17% annualized redemption premium 1f the index closes below its initial level on the corresponding observation date.
If the notes are not called, at maturity, investors will lose 1% for each 1% gain of the index, subject to a minimum payout of zero.
The underwriter is Barclays.
| Issuer: | Barclays Bank plc
|
| Issue: | Bearish autocallable notes
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| Underlying index: | S&P 500 index
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| Amount: | $1.65 million
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| Maturity: | June 9, 2021
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | 1% loss for each 1% gain of index, subject to minimum payout of zero
|
| Call: | Par plus 17% annualized if index closes below initial level on any quarterly observation date after six months
|
| Initial level: | 3,044.31
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| Pricing date: | May 29
|
| Settlement date: | June 3
|
| Underwriter: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06747PVT3
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