By Susanna Moon
Chicago, Jan. 16 – Barclays Bank plc priced $1.55 million of phoenix autocallable notes due Jan. 14, 2021 linked to the lesser performing of the common stocks of JPMorgan Chase & Co. and Pfizer 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 8.2% if each stock closes at or above its 70% coupon barrier 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 observation date other than the final date.
The payout at maturity will be par unless either stock finishes below its 70% barrier level, in which case investors will be fully exposed to any losses to 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: | JPMorgan Chase & Co. (Symbol: JPM) and Pfizer Inc. (Symbol: PFE)
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| Amount: | $1.55 million
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| Maturity: | Jan. 14, 2021
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| Coupon: | 8.2% annualized, payable quarterly if each stock closes at or above 70% 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 unless either stock finishes below 70% barrier, in which case 9.022 JPMorgan shares or 27.3523 Pfizer shares, whichever is worse performing
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any observation date other than final date beginning with the second date
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| Initial levels: | $110.84 for JPMorgan, $36.56 for Pfizer
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| Barrier levels: | $77.59 for JPMorgan, $25.59 for Pfizer; 70% of initial levels
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 17
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| Agent: | Barclays
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| Fees: | 2.5%
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| Cusip: | 06744CRL7
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