By Susanna Moon
Chicago, Aug. 24 – Barclays Bank plc priced $1 million of phoenix autocallable notes due Aug. 22, 2023 linked to the iShares PHLX Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.25% if the underlying asset closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the asset closes at or above its initial level on any call valuation date.
The payout at maturity will be par unless the underlying asset finishes below its 70% trigger level, in which case investors will be exposed to any losses.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying asset: | iShares PHLX Semiconductor ETF
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Amount: | $1 million
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Maturity: | Aug. 22, 2023
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Coupon: | 10.25% annualized, payable quarterly if asset closes at or above 80% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless asset finishes below 70% trigger, in which case 1% loss per 1% decline
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Call: | At par plus contingent coupon if asset closes at or above initial level on any call valuation date other than final date beginning with the second date
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Initial level: | $179.72
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Coupon barrier: | $143.78, 80% of initial level
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Trigger level: | $125.80, 70% of initial level
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Pricing date: | Aug. 17
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Settlement date: | Aug. 22
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Agent: | Barclays
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Fees: | None
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Cusip: | 06746XMK6
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