By Wendy Van Sickle
Columbus, Ohio, Oct. 25 – Barclays Bank plc priced $1.34 million of phoenix autocallable notes due Oct. 25, 2018 linked to the ordinary shares of Bristol-Myers Squibb Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.71% if the stock closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its barrier level, in which case investors will be fully exposed to any losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | Bristol-Myers Squibb Co.
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| Amount: | $1,336,000
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| Maturity: | Oct. 25, 2018
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| Coupon: | 10.71% per year, payable quarterly if stock closes at or above barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus the contingent coupon unless the stock finishes below its barrier level, in which case investors will be fully exposed to any losses
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| Call: | At par plus the contingent coupon if the stock closes at or above its initial level on any observation date other than final date
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| Initial price: | $50.02
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| Barrier level: | $37.52, 75% of initial price
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| Pricing date: | Oct. 21
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| Settlement date: | Oct. 26
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06741VDD1
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