By William Gullotti
Buffalo, N.Y., Nov. 6 – Barclays Bank plc priced $1.76 million of callable contingent coupon notes due Nov. 4, 2026 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 9.25% if the index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any monthly observation date after six months.
If the notes are not redeemed and the index finishes at or above its 70% final barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the index’s decline from initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
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| Underlying index: | S&P 500 index
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| Amount: | $1.76 million
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| Maturity: | Nov. 4, 2026
|
| Contingent coupon: | 9.25% per year, payable monthly if the index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon if the index finishes at or above final barrier; otherwise, investors will lose 1% for each 1% decline from initial level
|
| Call option: | In whole at par plus any coupon due on any monthly observation date after six months
|
| Initial level: | 4,166.82
|
| Coupon barrier level: | 2,916.77; 70% of initial level
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| Final barrier level: | 2,916.77; 70% of initial level
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 2
|
| Agent: | Barclays
|
| Fees: | 0.55%
|
| Cusip: | 06745NUQ7
|
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