By Wendy Van Sickle
Columbus, Ohio, Jan. 22 – Barclays Bank plc priced $1.22 million of phoenix autocallable notes due July 20, 2022 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if the fund closes at or above its 65% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if the fund 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 fund finishes below 65% of its initial value, in which case investors will be fully exposed to the fund’s decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $1,218,000
|
| Maturity: | July 20, 2022
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| Coupon: | 10.5% annualized, payable quarterly if fund closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless fund finishes below final barrier level, in which case full exposure to fund’s decline
|
| Call: | At par plus contingent coupon if fund closes at or above its initial level on any quarterly call observation date
|
| Initial levels: | $42.75
|
| Barriers: | $27.79; 65% of initial level
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 21
|
| Agent: | Barclays
|
| Fees: | 0.675%
|
| Cusip: | 06747QUH8
|
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