New Issue: Barclays sells $600,000 phoenix autocallable notes on Apple

By Wendy Van Sickle

Columbus, Ohio, Jan. 14 – Barclays Bank plc priced $600,000 of phoenix autocallable notes due Jan. 17, 2023 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 13% if the stock closes at or above its 75% coupon barrier on a related observation date.

After six months, 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 other than the final one.

The payout at maturity will be par plus the coupon unless the stock finishes below 75% of its initial value, in which case investors will be fully exposed to the stock’s decline.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stock:	Apple Inc.
Amount:	$600,000
Maturity:	Jan. 17, 2023
Coupon:	13% annualized, payable quarterly if stock closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	Par plus coupon unless stock finishes below final barrier level, in which case full exposure to stock’s decline
Call:	At par plus contingent coupon if stock closes at or above its initial level on any quarterly call observation date after six months
Initial level:	$128.80
Coupon barrier:	$96.60, 75% of initial level
Final barrier:	$96.60, 75% of initial level
Pricing date:	Jan. 12
Settlement date:	Jan. 15
Agent:	Barclays
Fees:	1.75%
Cusip:	06741WNS5

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