By Marisa Wong
Los Angeles, April 5 – Barclays Bank plc priced $23.99 million of buffered autocallable fixed-coupon notes due March 5, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a coupon of 1.9625% for each coupon payment date. The coupon reference dates fall in February and August of each year.
The notes are non-callable for the first 11 months. After that, the notes will be automatically called at par plus the coupon if the index closes at or above its initial level on any call valuation date. Call valuation dates are the coupon reference dates beginning in February 2022 and ending in August 2024.
If the notes are not called and the index finishes at or above 80% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1.25% for each 1% index decline beyond the 20% buffer.
Barclay is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable fixed-coupon notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $23,986,000
|
| Maturity: | March 5, 2025
|
| Coupon: | 1.9625% for each semiannual coupon payment date; coupon reference dates fall in February and August of each year
|
| Price: | Par
|
| Call: | At par if index closes at or above initial level on any semiannual call date beginning in February 2022 and ending in August 2024
|
| Payout at maturity: | Par unless index finishes below buffer level, in which case 1.25% loss for each 1% decline of index beyond 20%
|
| Initial level: | 3,972.89
|
| Buffer level: | 3,178.31, 80% of initial level
|
| Pricing date: | March 31
|
| Settlement date: | April 6
|
| Agent: | Barclays
|
| Fees: | None
|
| Cusip: | 06748EFN8
|
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