Chicago, July 21 – Barclays Bank plc priced $232,000 of callable contingent coupon notes due July 19, 2028 linked to the performance of the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 10% if the index closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly observation date.
If the notes are not redeemed, the payout will be par plus any final coupon if the index finishes at or above the 60% final barrier.
Otherwise, investors will be fully exposed to the index’s decline from initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying index: | Euro Stoxx Banks index
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| Amount: | $232,000
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| Maturity: | July 19, 2028
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| Contingent coupon: | 10% per year, payable quarterly if the index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if the index finishes at or above final barrier; otherwise, investors will lose 1% for each 1% decline from initial level
|
| Call option: | In whole at par plus any coupon due on any quarterly observation date
|
| Initial level: | 109.35
|
| Coupon barrier level: | 65.61; 60% of initial level
|
| Final barrier level: | 65.61; 60% of initial level
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| Pricing date: | July 14
|
| Settlement date: | July 18
|
| Agent: | Barclays
|
| Fees: | 4%
|
| Cusip: | 06745MPC6
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