By William Gullotti
Buffalo, N.Y., Feb. 2 – Barclays Bank plc priced $1.04 million of autocallable contingent coupon notes due April 11, 2024 linked to the common stock of Penn National Gaming, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 17% if the stock closes at or above its coupon barrier level, 50% of the initial price, on the determination date for that period. Previously unpaid coupons will also be paid.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any monthly determination date after three months.
The payout at maturity will be par plus any coupon due unless the stock finishes below its 50% barrier level, in which case investors will lose 1% for each 1% decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying stock: | Penn National Gaming, Inc.
|
| Amount: | $1,036,000
|
| Maturity: | April 11, 2024
|
| Coupon: | 17% per year, payable monthly if shares close at or above coupon trigger level on a related determination date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its barrier level, in which case investors will lose 1% for each 1% decline
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any monthly determination date after three months
|
| Initial share price: | $102.37
|
| Coupon barrier level: | $51.18; 50% of initial share price
|
| Barrier level: | $51.18; 50% of initial share price
|
| Pricing date: | April 8
|
| Settlement date: | April 13
|
| Agent: | Barclays
|
| Fees: | 0.6%
|
| Cusip: | 06748EJJ3
|
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