By Marisa Wong
Los Angeles, Nov. 30 – Barclays Bank plc priced $52.99 million of 0% autocallable market-linked step-up notes due Nov. 27, 2023 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 9.4% if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level – 126% 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 26%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $52,994,630
|
| Maturity: | Nov. 27, 2023
|
| 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 by up to the step-up level, par plus 26%; full exposure to losses
|
| Call: | Automatically at par plus an annual call premium of 9.4% if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 3,635.41
|
| Step-up level: | 4,580.62, 126% of initial level
|
| Pricing date: | Nov. 24
|
| Settlement date: | Dec. 2
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06747L850
|
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