By William Gullotti
Buffalo, N.Y., Aug. 17 – Barclays Bank plc priced $1.13 million of autocallable contingent coupon equity-linked notes due Aug. 14, 2025 linked to the class A common stock of Trade Desk, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 17.5% if the stock closes at or above its coupon trigger level, 70% of the initial price, on the determination date for that period. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be automatically called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date.
The payout at maturity will be par plus the final coupon if the stock finishes at or above the coupon trigger level.
If the stock finishes below the coupon trigger but at or above its 60% trigger level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline from the initial share price.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stock: | Trade Desk, Inc.
|
| Amount: | $1,134,000
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| Maturity: | Aug. 14, 2025
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| Coupon: | 17.5% per year, payable monthly if shares close at or above coupon trigger level on a related determination date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if stock finishes at or above coupon trigger level; par if the stock finishes below coupon trigger level but not below trigger level; otherwise, lose 1% for each 1% decline from the initial share price
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
|
| Initial share price: | $77.09
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| Coupon trigger level: | $53.96; 70% of initial share price
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| Trigger level: | $46.25; 60% of initial share price
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 15
|
| Agent: | Barclays
|
| Fees: | 2.2%
|
| Cusip: | 06745N3G9
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