By Wendy Van Sickle
Columbus, Ohio, Sept. 6 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Sept. 2, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each six months, the notes will pay a contingent coupon at an annual rate of 8.5% if the index closes at or above the coupon barrier level, 80% of the initial index level, on the observation date for that period.
The notes will be called at par if the index closes at or above the initial index level on any observation date other than the final one.
If the notes are not called and the index finishes at or above the barrier level, 70% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying index: | Russell 2000
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| Amount: | $500,000
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| Maturity: | Sept. 2, 2022
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| Coupon: | 8.5% per year, payable semiannually if index closes at or above coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if index finishes at or above barrier level; otherwise, full exposure to decline
|
| Call: | At par plus contingent coupon if index closes at or above initial levels on any observation date other than final date
|
| Initial level: | 1,383.68
|
| Coupon barrier: | 1,106.94; 80% of initial level
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| Barrier: | 968.58; 70% of initial level
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| Pricing date: | Aug. 29
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| Settlement date: | Sept. 1
|
| Agent: | Barclays
|
| Fees: | 0%
|
| Cusip: | 06744CHN4
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