By Wendy Van Sickle
Columbus, Ohio, April 29 – Barclays Bank plc priced $10 million of buffered autocallable contingent coupon notes due April 29, 2022 linked to the class A common stock of DraftKings Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a 23.3% annualized rate if the stock closes at or above its 85% coupon barrier value on the related observation date.
The notes will be callable at par if the stock closes at or above its initial share price on any quarterly call date starting in October.
The payout at maturity will be par unless the stock finishes below 85% of its initial share price, in which case investors will lose 1% for each 1% decline beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
|
| Underlying stock: | DraftKings Inc.
|
| Amount: | $10 million
|
| Maturity: | April 29, 2022
|
| Contingent coupon: | 23.3% per year, payable quarterly if stock closes at or above 85% of initial on share price related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below 85% of initial share price, in which case 1% loss for each 1% decline beyond 15%
|
| Call: | At par if stock closes at or above initial share price on any quarterly observation date starting in October
|
| Initial share price: | $58.12
|
| Buffer level: | $49.40, 85% of initial share price
|
| Pricing date: | April 26
|
| Settlement date: | April 29
|
| Agent: | Barclays
|
| Fees: | 1.7%
|
| Cusip: | 06748EM59
|
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