By William Gullotti
Buffalo, N.Y., Feb. 7 – Barclays Bank plc priced $2.4 million of autocallable contingent coupon notes due April 13, 2022 linked to the common stock of ViacomCBS Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.5% if the stock closes at or above its coupon barrier level, 68% of the initial price, on the determination date for that period. Previously unpaid coupons will also be paid.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date.
The payout at maturity will be par plus any coupon due unless the stock finishes below its 68% barrier level, in which case investors will lose 1% for each 1% decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying stock: | ViacomCBS Inc.
|
| Amount: | $2,400,000
|
| Maturity: | April 13, 2022
|
| Coupon: | 14.5% per year, payable quarterly if shares close at or above coupon barrier level on a related determination date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its barrier level, in which case investors will lose 1% for each 1% decline
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
|
| Initial share price: | $43.89
|
| Coupon barrier level: | $29.85; 68% of initial share price
|
| Barrier level: | $29.85; 68% of initial share price
|
| Pricing date: | April 8
|
| Settlement date: | April 13
|
| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06748EJK0
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
