By William Gullotti
Buffalo, N.Y., April 18 – Barclays Bank plc priced $1.05 million of callable contingent coupon notes April 17, 2025 linked to the stock performance of NIKE, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 11.1% if the stock closes at or above its coupon barrier level, 65% of its initial level, on the valuation date for that period. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
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 65% of its initial level, in which case investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying stock: | NIKE, Inc.
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| Amount: | $1,054,000
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| Maturity: | April 17, 2025
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| Contingent coupon: | 11.1% per year, payable quarterly if the stock closes at or above coupon barrier on the valuation date for that period; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless the stock finishes below its final barrier level, in which case investors will receive 8.08669 shares per note and fractional shares as cash
|
| Call option: | In whole at par plus any coupon due on any quarterly call valuation date
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| Initial level: | $123.66
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| Coupon barrier level: | $80.38; 65% of initial level
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| Final barrier level: | $80.38; 65% of initial level
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| Pricing date: | April 12
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| Settlement date: | April 17
|
| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06741W3W8
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