By William Gullotti
Buffalo, N.Y., June 6 – Barclays Bank plc priced $2 million of phoenix autocallable notes due May 30, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.3% if the index closes at or above its 75% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if the index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the final coupon unless the index finishes below 75% of its initial value in which case investors will be fully exposed to the losses of the index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying index: | S&P 500 index
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| Amount: | $2 million
|
| Maturity: | May 30, 2025
|
| Coupon: | 7.3% annualized, payable quarterly if index closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless underlying index finishes below final barrier, in which case full exposure to loss of index
|
| Call: | At par plus contingent coupon if underlying index closes at or above initial level on any quarterly call observation date
|
| Initial level: | 4,205.45
|
| Coupon barrier: | 3,154.09; 75% of initial level
|
| Final barrier: | 3,154.09; 75% of initial level
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| Pricing date: | May 26
|
| Settlement date: | May 31
|
| Agent: | Barclays
|
| Fees: | 2.35%
|
| Cusip: | 06745MFF0
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