By Susanna Moon
Chicago, Feb. 6 – Barclays Bank plc priced $1.12 million of phoenix autocallable notes due Jan. 31, 2019 linked to the American Depositary Shares representing the common shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9% if the stock closes at or above the barrier level – 75% of the initial price – 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 the initial price 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 75% barrier level, in which case investors will lose 1% for each 1% decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | Alibaba Group Holding Ltd. (Symbol: BABA)
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| Amount: | $1,123,000
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| Maturity: | Jan. 31, 2019
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| Coupon: | 9%, 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 contingent coupon unless stock finishes below 75% barrier level, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if stock closes at or above initial price on any observation date other than the final date
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| Initial level: | $102.07
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| Barrier level: | $76.55, 75% of initial level
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| Pricing date: | Jan. 27
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| Settlement date: | Feb. 1
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06741VHZ8
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