Chicago, April 14 – Barclays Bank plc priced $2.4 million of 16.65% autocallable fixed-coupon notes due April 15, 2024 linked to the common stock of American Airlines Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if the stock closes at or above its initial level on any quarterly observation date beginning in October 2023.
If the notes are not called, the payout at maturity will be par unless the stock finishes below 60% of its initial level, in which cases investors will receive a number of shares equal to $10,000 divided by that stock’s initial share price or the cash equivalent at the issuer’s option.
Barclay is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed-coupon notes
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| Underlying stock: | American Airlines Group Inc.
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| Amount: | $2,400,000
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| Maturity: | April 15, 2024
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| Coupon: | 16.65% per year, payable monthly
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| Price: | Par of $10,000
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| Payout at maturity: | Par unless stock finishes below barrier level, in which case investors will receive 706.71378 shares or the cash equivalent at the issuer’s option
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| Call: | At par if stock closes at or above initial level on any quarterly observation date beginning in October 2023
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| Initial level: | $14.15
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| Barrier level: | $8.49; 60% of initial level
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| Pricing date: | April 10
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| Settlement date: | April 13
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| Agent: | Barclays
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| Fees: | 1%
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| Cusip: | 06741W3U2
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