By Wendy Van Sickle
Columbus, Ohio, Sept. 7 – Barclays Bank plc priced $2.16 million of phoenix autocallable notes due Sept. 2, 2021 linked to the least performing of the common stocks of Visa Inc. and Amazon.com, Inc., 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% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly observation date after one year other than the first and final dates.
The payout at maturity will be par unless any stock finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Visa Inc. and Amazon.com, Inc.
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| Amount: | $2.16 million
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| Maturity: | Sept. 2, 2021
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| Coupon: | 8% per year, payable quarterly if each stock closes at or above 70% coupon 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 if each stock finishes at or above trigger level; otherwise, full exposure to decline of worst performing stock
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| Call: | At par plus contingent coupon if stocks close at or above initial levels on any quarterly observation date other than first and final dates
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| Initial levels: | $946.02 for Amazon, $103.78 for Visa
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| Coupon barriers/triggers: | $662.21 for Amazon, $72.65 for Visa; 70% of initial levels
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | Barclays
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| Fees: | 2.6%
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| Cusip: | 06744CGZ8
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