By William Gullotti
Buffalo, N.Y., July 22 – Barclays Bank plc priced $600,000 of phoenix autocallable notes due July 18, 2024 linked to the performance of Palantir Technologies Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 14% if the stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if the stock closes at or above its initial level on any quarterly call observation date.
If the notes are not called and the stock finishes at or above its final barrier price, 60% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the stock’s decline from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying stock: | Palantir Technologies Inc.
|
Amount: | $600,000
|
Maturity: | July 18, 2024
|
Coupon: | 14% annualized, payable monthly if stock closes at or above coupon barrier on related observation date
|
Price: | Par
|
Payout at maturity: | Par unless underlying stock finishes below final barrier, in which case full exposure to stock’s decline from initial level
|
Call: | At par plus contingent coupon if underlying stock closes at or above initial level on any quarterly call observation date
|
Initial level: | $21.47
|
Coupon barrier: | $12.88; 60% of initial level
|
Final barrier: | $12.88; 60% of initial level
|
Pricing date: | July 15
|
Settlement date: | July 18
|
Agent: | Barclays
|
Fees: | 3.25%
|
Cusip: | 06748W4T7
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.