By Taylor Fox
New York, Nov. 23 – Barclays Bank plc priced $750,000 of phoenix autocallable notes due Nov. 21, 2022 linked to the common stock of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15.25% if the stock closes at or above its 50% 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 quarterly call observation date after six months.
The payout at maturity will be par unless the stock finishes below 50% of its initial value, in which case investors will be fully exposed to the decline of the stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Wynn Resorts, Ltd.
|
| Amount: | $750,000
|
| Maturity: | Nov. 21, 2022
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| Coupon: | 15.25% annualized, payable quarterly if the stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below final barrier, in which case investors will be fully exposed to the decline of the stock
|
| Call: | At par plus contingent coupon if the stock closes at or above initial level on any quarterly call observation date after six months
|
| Initial level: | $92.19
|
| Coupon barriers: | $46.10; 50% of initial levels
|
| Final barriers: | $46.10; 50% of initial levels
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 19
|
| Agent: | Barclays
|
| Fees: | 0.90%
|
| Cusip: | 06741WMC1
|
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