By Taylor Fox
New York, Jan. 25 – Barclays Bank plc priced $3 million of phoenix autocallable notes due Dec. 31, 2025 linked to the least performing of the iShares MSCI Emerging Markets ETF and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each asset 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 each asset closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par plus any coupon, unless any asset finishes below 65% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying assets: | iShares MSCI Emerging Markets ETF and the Euro Stoxx Banks index
|
| Amount: | $3 million
|
| Maturity: | Dec. 31, 2025
|
| Coupon: | 7% annual rate, payable quarterly if each asset closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any asset finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing asset
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly call observation date after one year
|
| Initial level: | $50.27 for fund, 74.85 for index
|
| Coupon barriers: | $32.68 for fund, 48.65 for index; 65% of initial levels
|
| Final barriers: | $32.68 for fund, 48.65 for index; 65% of initial levels
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 30
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747QUL9
|
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