By Taylor Fox
New York, Nov. 16 – Barclays Bank plc priced $865,000 autocallable contingent interest notes due Nov. 10, 2021 linked to the common stock of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a quarterly contingent interest payment at an annual rate of 18.65% if the stock closes above its coupon barrier, 80% of its initial price, on the relevant review date. Investors will also receive any previously unpaid interest payments.
If the stock closes above its initial level on any quarterly review date, the notes will be automatically called at par plus the contingent interest payment and previously unpaid interest payments.
The payout at maturity will be par plus the contingent interest payment and any previously unpaid interest payments if the final level of the stock closes at or above its final barrier, 80% of its initial price.
Otherwise, investor will be full exposed to the decline of the stock.
Barclays Bank plc is the agent. JP Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Barclays Bank plc
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| Guarantor: | Barclays Bank plc
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | FedEx Corp.
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| Amount: | $865,000
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| Maturity: | Nov. 10, 2021
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| Coupon: | 18.65% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that quarter; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par plus interest payment and any previously unpaid interest payments if stock finishes above final barrier; otherwise full exposure to losses of stock
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| Call: | At par plus interest payment and any previously unpaid interest payments if stock finishes above initial level on quarterly review date
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| Initial price: | $283.56
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| Coupon barrier/final barrier price: | $226.85, 80% of initial price
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| Pricing date: | Oct. 23
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| Settlement date: | Oct. 28
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| Agent: | Barclays
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| Placement agents: | JP Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 06747QN45
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