By Susanna Moon
Chicago, April 3 – Barclays Bank PLC priced $6.38 million of contingent income autocallable securities due March 27, 2020 linked to Kroger Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.55% if Kroger stock closes at or above the 80% coupon barrier on a review date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the final date.
The payout at maturity will be par plus the contingent coupon unless Kroger shares finish below its 80% trigger level, in which case investors will be fully exposed to any losses.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Kroger Co. (Symbol: KR)
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| Amount: | $6,383,500
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| Maturity: | March 27, 2020
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| Coupon: | 8.55%, payable quarterly if stock closes at or above 80% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless Kroger shares fall below 80% trigger, in which case par plus stock return
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| Call: | At par plus contingent coupon if Kroger shares close at or above initial price on a quarterly review date other than final date
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| Initial share price: | $29.10
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| Trigger price: | $23.28, 80% of initial price
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Underwriter: | Barclays
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| Fees: | 2%
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| Cusip: | 06745T152
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