By Taylor Fox
New York, Aug. 26 – Barclays Bank plc priced $1.15 million of phoenix autocallable notes due Feb. 27, 2024 linked to the least performing of the stocks of Wynn Resorts, Ltd. and Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.5% if each stock closes at or above its 50% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par plus any coupon unless any stock finishes below 50% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Wynn Resorts, Ltd. and Las Vegas Sands Corp.
|
| Amount: | $1,150,000
|
| Maturity: | Feb. 27, 2024
|
| Coupon: | 12.5% annualized, payable quarterly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any stock finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly call observation date after six months
|
| Initial level: | $126.75 for Wynn and $61.74 for Las Vegas
|
| Coupon barrier levels: | $63.38 for Wynn and $30.87 for Las Vegas; 50% of initial levels
|
| Final barrier levels: | $63.38 for Wynn and $30.87 for Las Vegas; 50% of initial levels
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 25
|
| Agent: | Barclays
|
| Fees: | 2.35%
|
| Cusip: | 06748E7B3
|
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