By Kiku Steinfeld
Chicago, April 4 – Barclays Bank plc priced $1.37 million of autocallable contingent coupon equity-linked notes due Sept. 28, 2022 linked to the American Depositary Shares of Alibaba Group Holding Ltd., 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 an annual rate of 10.2% if the stock closes at or above its coupon trigger level, 70% of the initial price, on the determination date for that period.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline, payable in shares or cash as the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stock: | Alibaba Group Holding Ltd.
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| Amount: | $1,371,000
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| Maturity: | Sept. 28, 2022
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| Coupon: | 10.2% per year, payable quarterly if shares close at or above coupon trigger level on a related determination date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par if stock finishes above trigger level; otherwise, full exposure to losses of stock, payable as 6.61419 shares or cash as the issuer’s option
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
|
| Initial share price: | $151.19
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| Coupon trigger level: | $105.83; 70% of initial share price
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| Trigger level: | $105.83; 70% of initial share price
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| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 28
|
| Agent: | Barclays
|
| Fees: | 2%
|
| Cusip: | 06741WD72
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