By Sarah Lizee
Olympia, Wash., Aug. 13 – Barclays Bank plc priced $1.55 million of autocallable contingent interest notes due Aug. 12, 2021 linked to the common stock of Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the buffer value, 77% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon at the rate of 10% per year plus all previously unpaid contingent coupons, if any.
The notes will be automatically called at par plus the contingent coupon if the stock closes at or above the initial share price on any quarterly review date after one year.
If the notes have not been called, the payout at maturity will be par unless the stock finishes below its buffer value, in which case investors will lose 1.2987% for every 1% that the stock declines beyond 23%.
Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Occidental Petroleum Corp.
|
| Amount: | $1.55 million
|
| Maturity: | Aug. 12, 2021
|
| Coupon: | If stock closes at or above buffer value on quarterly review date, notes pay 10% per year plus all previously unpaid contingent coupons, if any
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below buffer value, in which case 1.2987% loss for every 1% that stock declines beyond 23%
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on any quarterly review date after one year
|
| Initial share price: | $46.00
|
| Final share price: | Average of stock’s closing prices on five trading days ending Aug. 9, 2021
|
| Buffer value: | $35.42, or 77% of initial share price
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| Pricing date: | Aug. 7
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| Settlement date: | Aug. 12
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| Agents: | Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.5%
|
| Cusip: | 06747ND27
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