By William Gullotti
Buffalo, N.Y., Sept. 21 – Barclays Bank plc priced $1.05 million of phoenix autocallable notes due March 11, 2025 linked to the performance of Shopify Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 16.15% if the stock closes at or above its 65% coupon barrier on a related observation date.
The notes will be automatically called at par plus the coupon if the stock closes at or above its call level, 95% of initial level, on any quarterly call observation date.
If the notes are not called and the stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
If the stock finishes below its coupon barrier but at or above its final barrier, 55% of its initial level, investors will receive par.
Otherwise, investors will be fully exposed to the decline of the stock from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying stock: | Shopify Inc.
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| Amount: | $1.05 million
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| Maturity: | March 11, 2025
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| Coupon: | 16.15% annualized, payable quarterly if stock closes at or above coupon barrier on related observation date
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| Price: | Par
|
| Payout at maturity: | Par plus final coupon if stock finishes at or above coupon barrier; if stock finishes below coupon barrier but at or above final barrier, par; otherwise, 1% loss for every 1% that the stock’s final level is less than its initial level
|
| Call: | At par plus contingent coupon if underlying stock closes at or above call level on any quarterly call observation date
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| Initial level: | $65.82
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| Call level: | $62.53; 95% of initial level
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| Coupon barrier: | $42.78; 65% of initial level
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| Final barrier: | $36.20; 55% of initial level
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| Strike date: | Sept. 6
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 20
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| Agent: | Barclays
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| Fees: | 2.375%
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| Cusip: | 06745NHY5
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