By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – Barclays Bank plc priced $10 million of autocallable contingent interest notes due Jan. 27, 2023 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 13.3% per annum if the ETF closes at or above its 85% coupon barrier level on the determination date for that period.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial share price on any monthly call observation date other than the first, second and final review dates.
The payout at maturity will be par unless the ETF finishes below 85% of its initial share price, in which case investors will lose 1.17647% for each 1% loss beyond 15%
The agent is Barclays Capital Inc. J.P. Morgan Securities LLC is the placement agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent interest notes
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $10 million
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| Maturity: | Jan. 27, 2023
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| Contingent coupon: | 13.3% annualized, payable monthly if the ETF closes at or above the coupon barrier level on the determination date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless the ETF finishes below 85% of its initial share price, in which case investors will lose 1.17647% for each 1% loss beyond 15%
|
| Call: | Automatically at par plus coupon if the ETF closes at or above initial share price on any monthly call observation date other than the first, second and final ones
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| Initial share price: | $439.84
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| Coupon barrier: | $373.86 85% of initial share price
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| Trigger level: | $373.86 85% of initial share price
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Agent: | Barclays Capital Inc.
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| Placement agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.2%
|
| Cusip: | 06748XAG6
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