By Marisa Wong
Morgantown, W.Va., Feb. 4 – Barclays Bank plc priced $930,000 of autocallable contingent interest notes due Feb. 12, 2020 linked to Alphabet 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 82% coupon barrier on the related quarterly valuation date.
The notes will be called at par plus the coupon if the stock closes at or above the initial price on any quarterly valuation date other than the final valuation date.
The payout at maturity will be par unless the stock finishes below the 82% buffer level, in which case investors will lose 1.21951% for each 1% decline beyond the 18% buffer.
Barclays is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Alphabet Inc. (Symbol: GOOGL)
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| Amount: | $930,000
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| Maturity: | Feb. 12, 2020
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| Coupon: | 8% annualized, payable quarterly if stock closes at or above coupon barrier on related quarterly valuation date
|
| Price: | Par
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| Payout at maturity: | Par plus coupon unless the stock finishes below buffer value, in which case investors will lose 1.21951% for each 1% decline beyond 18%
|
| Call: | At par if stock closes at or above initial share price on any quarterly valuation date other than final valuation date
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| Initial share price: | $1,101.51
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| Coupon barrier: | $903.24, 82% of initial price
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| Buffer value: | $903.24, 82% of initial price
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 30
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| Agent: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
|
| Fees: | 1%
|
| Cusip: | 06747MB88
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