New Issue: Barclays sells $1.38 million phoenix autocallable notes on Delta Air

By Kiku Steinfeld

Chicago, Feb. 22 – Barclays Bank plc priced $1.38 million of phoenix autocallable notes due Oct. 12, 2022 linked to the common stock of Delta Air Lines, 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 9.75% if the stock closes at or above its 71% coupon barrier on a related observation date.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any monthly call observation date after six months, other than the final one.

The payout at maturity will be par plus the coupon unless the stock finishes below 71% of its initial value, in which case investors will be fully exposed to the stock’s decline.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stock:	Delta Air Lines, Inc.
Amount:	$1,384,000
Maturity:	Oct. 12, 2022
Coupon:	9.75% annualized, payable monthly if stock closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	Par plus coupon unless stock finishes below final barrier level, in which case full exposure to stock’s decline
Call:	At par plus contingent coupon if stock closes at or above its initial level on any monthly call observation date after six months
Initial level:	$40.35
Coupon barrier:	$28.65, 71% of initial levels
Final barrier:	$28.65, 71% of initial levels
Pricing date:	Sept. 7
Settlement date:	Sept. 10
Agent:	Barclays
Fees:	2.15%
Cusip:	06748WFL2

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