By Susanna Moon
Chicago, Sept. 27 – Barclays Bank plc priced $2 million of phoenix autocallable notes due Sept. 25, 2019 linked to the least performing of the common stocks of Costco Wholesale Corp. and Ulta Beauty, 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 9% if each stock closes at or above its coupon barrier, 60% 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 other than the final date.
The payout at maturity will be par unless either stock finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Costco Wholesale Corp. (Symbol: COST) and Ulta Beauty, Inc. (Symbol: ULTA)
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| Amount: | $2 million
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| Maturity: | Sept. 24, 2020
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| Coupon: | 9% per year, payable quarterly if each stock closes at or above 60% coupon barrier 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 any losses of worse 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 final date
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| Initial levels: | $161.48 for Costco and $219.74 for Ulta
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| Trigger levels: | $96.89 for Costco and $131.84 for Ulta; 60% of initial levels
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 26
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| Agent: | Barclays
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| Fees: | 2.35%
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| Cusip: | 06744C4Y4
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