By Wendy Van Sickle
Columbus, Ohio, Nov. 19 – Barclays Bank plc priced $912,000 of callable contingent coupon notes due Nov. 12, 2021 linked to the common shares of McKesson Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Every quarter, the notes pay a coupon at an annualized rate of 10.75% if the stock closes at or above its coupon barrier value, 70% of its initial level, on the observation date for that period.
The notes are callable at par plus any coupon due on any coupon payment date after six months.
If the stock finishes at or above its barrier value, 70% of its initial level, the payout at maturity will be par plus the coupon. Otherwise, investors will be fully exposed to the decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying stock: | McKesson Corp.
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| Amount: | $912,000
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| Maturity: | Nov. 12, 2021
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| Contingent coupon: | 10.75% per year, payable quarterly if the stock closes at or above coupon barrier value on observation date for that period
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| Price: | Par
|
| Payout at maturity: | If the stock finishes at or above barrier value, par plus coupon; if stock falls below 70% of its initial level full exposure to losses
|
| Call option: | At par plus any coupon due on any coupon payment date after six months
|
| Initial level: | $137.31
|
| Coupon barrier: | $96.12; 70% of initial level
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| Barrier value: | $96.12; 70% of initial level
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| Pricing date: | Nov. 7
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| Settlement date: | Nov. 13
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| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741WFR6
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