By Sarah Lizee
Olympia, Wash., May 6 – Barclays Bank plc priced $1.5 million of 0% buffered autocallable notes due May 5, 2022 linked to the common stocks of CVS Health Corp. and UnitedHealth Group, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon at an annual rate of 10% if each stock closes above its 64% coupon barrier on a quarterly review date.
If each underlying stock closes at or above its initial level on any quarterly review date after one year, the notes will be called at par plus and previously unpaid coupon.
If the return of the lesser-performing underlying is at least negative 36%, the payout at maturity will be par. Otherwise, investors will lose 1.5625% for every 1% decline of the lesser-performing underlying beyond 36%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable notes
|
| Underlying stocks: | CVS Health Corp. and UnitedHealth Group
|
| Amount: | $1.5 million
|
| Maturity: | May 5, 2022
|
| Coupon: | 10%, payable quarterly if each stock closes above coupon barrier on related review date
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlying falls by more than 36%, in which case 1.5625% loss per 1% decline of lesser-performing underlying beyond 36%
|
| Call: | Automatically at par plus any previously unpaid coupon if each underlying stock closes at or above initial level on any quarterly review date after one year
|
| Initial levels: | $56.73 for CVS, $232.45 for UnitedHealth
|
| Coupon barriers: | $36.31 for CVS, $148.77 for UnitedHealth; 64% of initial levels
|
| Pricing date: | May 2
|
| Settlement date: | May 7
|
| Agent: | Barclays
|
| Fees: | 0.3%
|
| Cusip: | 06747MSY3
|
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