By Wendy Van Sickle
Columbus, Ohio, April 19 – Barclays Bank plc priced $2.71 million of buffered autocallable contingent coupon notes due April 20, 2027 linked to the shares of Estee Lauder Cos. Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a 10% annualized rate if the stock closes at or above its 55% coupon barrier value on the related observation date, plus any previously unpaid coupon.
The notes will be called automatically at par plus the coupon if the stock closes at or above its initial share price on a quarterly observation date after six months.
If the notes are not called and the stock finishes at or above its 55% buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% that the stock declines beyond 30%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable contingent coupon notes
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| Underlying stock: | Estee Lauder Cos. Inc.
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| Amount: | $2,712,000
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| Maturity: | April 20, 2027
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| Contingent coupon: | 10% per year, payable quarterly if the stock closes at or above coupon barrier on the related observation date, plus any previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if stock finishes at or above buffer level; otherwise, lose 1% for each 1% decline beyond 30%
|
| Call: | At par plus coupon if stock closes at or above initial share price on a quarterly observation date after six months
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| Initial share price: | $137.24
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| Coupon barrier: | $75.48; 55% of initial share price
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| Buffer level: | $75.48; 55% of initial share price
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| Pricing date: | April 15
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| Settlement date: | April 18
|
| Agent: | Barclays
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| Fees: | 2.5%
|
| Cusip: | 06745QHP7
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