By Emma Trincal
New York, Oct. 12 – Barclays Bank plc priced $1.3 million of callable contingent coupon notes due Oct. 9, 2024 linked to the worst performing of the common shares of American Express Co., Mastercard Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon plus any previously unpaid coupons at the annual rate of 9% if each stock closes at or above its coupon barrier, 80% of its initial price on the observation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly call date.
If the notes are not redeemed early, the payout at maturity will be par plus any final coupon and any unpaid coupon due if each stock’s final value is greater than or equal to the 50% final barrier level. Otherwise, investors will be fully exposed to the decline of the least performing stock from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying stocks: | American Express Co., Mastercard Inc. and Visa Inc.
|
| Amount: | $1.3 million
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| Maturity: | Oct. 9, 2024
|
| Contingent coupon: | 9% per year, payable quarterly if each stock closes at or above coupon barrier on observation date plus all previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus any final coupon due if each stock finishes at or above final barrier level; otherwise, full exposure to decline of least performing stock from its initial level
|
| Call option: | In whole at par plus any coupon due on any quarterly call date
|
| Initial levels: | $173.94 for American Express, $360.18 for Mastercard and $230.46 for Visa
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| Coupon barriers: | $139.15 for American Express, $288.14 for Mastercard and $184.37 for Visa; 80% of initial levels
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| Final barrier levels: | $86.97 for American Express, $180.09 for Mastercard and $115.23 for Visa; 50% of initial levels
|
| Valuation date: | Oct. 1
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| Pricing date: | Oct. 5
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| Settlement date: | Oct. 8
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| Agent: | Barclays
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| Fees: | 1%
|
| Cusip: | 06741WG95
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