By Devika Patel
Knoxville, Tenn., Sept. 20 – Barclays Bank plc priced $3.65 million of phoenix autocallable notes due Sept. 20, 2018 linked to the common units of Blackstone Group LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15% if Blackstone units close at or above the coupon barrier price, 75% of the initial unit price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the units close at or above the initial price on any observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless Blackstone units finish below the 75% barrier level, in which case investors will lose 1% for each 1% decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying units: | Blackstone Group LP (Symbol: BX)
|
| Amount: | $3,646,000
|
| Maturity: | Sept. 20, 2018
|
| Coupon: | 15%, payable quarterly if units close at or above coupon barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Blackstone units finish at or above barrier level; otherwise, 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if Blackstone units close at or above initial price on any quarterly observation date other than the final date
|
| Initial unit price: | $25.76
|
| Barrier levels: | $19.32, 75% of initial price
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 21
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741VBT8
|
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