By Sarah Lizee
Olympia, Wash., Dec. 18 – Barclays Bank plc priced $910,000 of autocallable contingent interest notes due Jan. 2, 2020 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 8% if the stock closes at or above the 73.5% coupon barrier on the valuation date for that quarter.
The notes will be called at par if the stock closes at or above the initial level on any valuation date other than the final valuation date.
The payout at maturity will be par unless the stock finishes below the 73.5% of the initial level, in which case investors will lose 1.3605% for each 1% decline beyond 26.5%.
Barclays is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $910,000
|
| Maturity: | Jan. 2, 2020
|
| Coupon: | 8% annualized, payable quarterly if stock closes at or above 73.5% coupon barrier on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below the 73.5% of the initial level, in which case investors will lose 1.3605% for each 1% decline beyond 26.5%
|
| Call: | At par if stock closes at or above initial share price on any valuation date other than final valuation date
|
| Initial share price: | $165.48
|
| Coupon barrier/buffer level: | $121.63, 73.5% of initial level
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 19
|
| Agent: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
|
| Fees: | 1%
|
| Cusip: | 06747M4T0
|
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