By Kiku Steinfeld
Chicago, March 16 – Barclays Bank plc priced $700,000 of callable contingent coupon notes Sept. 21, 2023 linked to the performing of the stock of Delta Air Lines, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 14.1% if the stock closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly call valuation date.
If the notes are not redeemed early, the payout will be par plus the final coupon unless the stock finishes below 70% of its initial level, in which case investors will be exposed to the loss of the stock from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
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| Underlying stock: | Delta Air Lines, Inc.
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| Amount: | $700,000
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| Maturity: | Sept. 21, 2023
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| Contingent coupon: | 14.1% per year, payable quarterly if the stock closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless the stock finishes below its final barrier level, in which case investors will be exposed to the loss of the stock from its initial level
|
| Call option: | In whole at par plus any coupon due on any quarterly call valuation date
|
| Initial levels: | $40.11
|
| Coupon barrier levels: | $28.08; 70% of initial levels
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| Final barrier levels: | $28.08; 70% of initial levels
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| Pricing date: | Sept. 17
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| Settlement date: | Sept. 22
|
| Agent: | Barclays
|
| Fees: | 1%
|
| Cusip: | 06748WGX5
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