Chicago, May 31 – Barclays Bank plc priced $575,000 of autocallable contingent interest notes due Nov. 30, 2022 linked to the common stock of Qualcomm Inc. according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 15.65% per year if the shares close at or above the downside threshold level, 80% of the initial share price, on the observation date for that quarter. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus coupon if shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the 80% threshold level, the payout at maturity will be par plus any final coupon. Otherwise, investors will lose 1% for each 1% of stock price decline from the initial price.
JPMorgan and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Qualcomm Inc.
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| Amount: | $575,000
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| Maturity: | Nov. 30, 2022
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| Contingent coupon: | 15.65%, payable quarterly if stock closes at or above downside threshold on observation date for that quarter; previously unpaid coupons will also be paid
|
| Price: | Par
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| Payout at maturity: | Par plus any final coupon unless stock finishes below downside threshold level, in which case investors will be fully exposed to the stock’s decline from its initial price
|
| Call: | At par plus coupon if stock closes at or above initial level on any quarterly observation date
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| Initial price: | $164.94
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| Downside threshold: | $131.95; 80% of initial price
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| Pricing date: | Nov. 12, 2021
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| Settlement date: | Nov. 17, 2021
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| Agents: | JPMorgan and Barclays Capital Inc.
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| Fees: | 1%
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| Cusip: | 06748WST1
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