By Wendy Van Sickle
Columbus, Ohio, March 8 – Barclays Bank plc priced $10.87 million of phoenix autocallable notes due Sept. 9, 2022 linked to the common index of S&P 500 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.35% if the index closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless the index finishes below 70% of its initial value in which case investors will be fully exposed to the decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying index: | S&P 500 Value index
|
| Amount: | $10.87 million
|
| Maturity: | Sept. 9, 2022
|
| Coupon: | 9.35% annualized, payable quarterly if index closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any quarterly call observation date
|
| Payout at maturity: | Par unless index finishes below final barrier, in which case full exposure to decline
|
| Initial level: | 1,325.67
|
| Coupon barrier level: | 927.97, 70% of initial level
|
| Final barrier level: | 927.97, 70% of initial level
|
| Pricing date: | March 4
|
| Settlement date: | March 9
|
| Agent: | Barclays
|
| Fees: | 0%
|
| Cusip: | 06748EAR4
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