Chicago, Aug. 8 – Barclays Bank plc priced $1.67 million of callable contingent coupon notes due July 29, 2027 linked to the least performing of the iShares MSCI EAFE ETF and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 9.8% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly call date after three months.
If the notes are not redeemed early and each ETF finishes at or above its 60% final barrier level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying ETFs: | iShares MSCI EAFE ETF and iShares MSCI Emerging Markets ETF
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Amount: | $1,666,000
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Maturity: | July 29, 2027
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Contingent coupon: | 9.8% per year, payable monthly if each underlier closes at or above coupon barrier on the observation date for that period
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Price: | Par
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Payout at maturity: | If the final level of each ETF is greater than or equal to its final barrier, par plus any final coupon; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
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Call option: | In whole at par plus any coupon due on any monthly call date after three months
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Initial levels: | $74.08 for EAFE, $41.45 for EM
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Coupon barriers: | $51.86 for EAFE, $29.02 for EM; 70% of initial levels
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Final barrier levels: | $44.45 for EAFE, $24.87 for EM; 60% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | Barclays
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Fees: | 1%
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Cusip: | 06745MTN8
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