By Wendy Van Sickle
Columbus, Ohio, Dec. 14 – Barclays Bank plc priced $2.35 million of callable contingent coupon notes due Dec. 8, 2022 linked to the shares of American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 11.2% if the stock closes at or above its coupon barrier level, 75% of its initial level, on the related quarterly observation date.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date after six months.
If the notes are not redeemed, the payout at maturity will be par plus any final coupon unless the stock finishes below 75% of its initial level, in which case investors will be fully exposed to the decline.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying shares: | American Express Co.
|
| Amount: | $2,348,000
|
| Maturity: | Dec. 8, 2022
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| Contingent coupon: | 11.2% per year, payable each quarter that stock closes at or above coupon barrier on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless stock finishes below final barrier, in which case full exposure to decline
|
| Call option: | In whole at par plus any coupon due on any quarterly call date after six months
|
| Initial level: | $125.04
|
| Coupon barrier: | $93.78; 75% of initial level
|
| Final barrier: | $93.78; 75% of initial level
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| Pricing date: | Dec. 4
|
| Settlement date: | Dec. 9
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741WMF4
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