By Sarah Lizee
Olympia, Wash., Feb. 25 – Barclays Bank plc priced $2.88 million of callable contingent coupon notes due Feb. 25, 2021 linked to the common stock of Kraft Heinz Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 9.25% if the stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless the stock finishes below its 70% barrier, in which case investors will be fully exposed to the loss of the stock.
The notes are callable at par on any interest payment date.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying stock: | Kraft Heinz Co.
|
| Amount: | $2,875,000
|
| Maturity: | Feb. 25, 2021
|
| Coupon: | 9.25% annualized, payable each quarter stock closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below barrier, in which case full exposure to loss of stock
|
| Call option: | At par on any interest payment date
|
| Initial level: | $48.18
|
| Coupon barrier: | $33.73; 70% of initial level
|
| Barrier level: | $33.73; 70% of initial level
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06747MEB8
|
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