By William Gullotti
Buffalo, N.Y., July 28 – Barclays Bank plc priced $6.54 million of phoenix autocallable notes due July 26, 2023 linked to the performance of Datadog, Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15% if the stock closes at or above its 65.75% coupon barrier on a related observation date.
The notes will be automatically called at par plus contingent coupon if the stock closes at or above its initial level on any quarterly call observation date.
If the notes are not called and the stock finishes at or above its final barrier price, 65.75% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline in stock price from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | Datadog, Inc.
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| Amount: | $6.54 million
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| Maturity: | July 26, 2023
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| Coupon: | 15% annualized, payable quarterly if stock closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless underlying stock finishes below final barrier, in which case full exposure to loss of stock
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| Call: | At par plus contingent coupon if underlying stock closes at or above initial level on any quarterly call observation date
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| Initial level: | $110.20
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| Coupon barrier: | $72.46; 65.75% of initial level
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| Final barrier: | $72.46; 65.75% of initial level
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| Pricing date: | July 22
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| Settlement date: | July 28
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06748W6F5
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