By Wendy Van Sickle
Columbus, Ohio, Jan. 3 – Barclays Bank plc priced $47.2 million of 0% autocallable market-linked step-up notes due Dec. 23, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 6.8% a year if the index closes at or above its initial level on any annual call observation date.
If the index finishes above the step-up level, 135% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 35%.
Investors will receive par if the index falls by up to 15% and will be exposed to losses beyond 15%.
BofA Merrill Lynch is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $47,196,190
|
| Maturity: | Dec. 23, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus a 6.8% annual call premium if the index closes at or above its initial level on any annual call date
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if index finishes at or below the step-up level but at or above the initial level, par plus 35%; par if index falls by up to 15%; exposure to losses beyond 15%
|
| Initial level: | 2,249.26
|
| Step-up level: | 3,036.50, 135% of initial level
|
| Pricing date: | Dec. 29
|
| Settlement date: | Jan. 6
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06745R495
|
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