By Marisa Wong
Morgantown, W.Va., June 12 – Barclays Bank plc priced $1 million of phoenix autocallable notes due June 3, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if the index closes at or above its coupon barrier, 85% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any observation date other than the first and final dates.
The payout at maturity will be par unless the index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying index: | Russell 2000
|
| Amount: | $1 million
|
| Maturity: | June 3, 2022
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| Coupon: | 10.5% annualized payable quarterly if index closes at or above | coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless index finishes below | trigger level, in which case 1% loss for every 1% decline
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any observation date other than first and final dates
|
| Initial index level: | 1,371.19
|
| Coupon barrier: | 1,165.51, 85% of initial level
|
| Trigger level: | 959.83, 70% of initial level
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| Pricing date: | May 30
|
| Settlement date: | June 2
|
| Agent: | Barclays
|
| Fees: | None
|
| Cusip: | 06741VW99
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