Chicago, May 4 – Barclays Bank plc priced $1.2 million of autocallable contingent coupon notes due April 30, 2026 linked to the worst performing of the stocks of United Parcel Service, Inc. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 11.75% if each stock closes at or above its coupon barrier level, 60% of its initial level, on the related observation date, in which case any previously unpaid coupons will also be paid.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial level on any quarterly call observation date after one year.
If the notes are not called and each stock finishes at or above its final barrier price, 60% of its initial share price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be exposed to the laggard stock’s decline from its initial level.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | United Parcel Service, Inc., FedEx Corp.
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| Amount: | $1,200,000
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| Maturity: | April 30, 2026
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| Contingent coupon: | 11.75% per year, payable quarterly plus any previously unpaid coupons if each stock closes at or above coupon barrier related observation date
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above its final barrier price, par plus the final coupon; otherwise, investors will be exposed to the laggard stock’s decline from its initial level
|
| Call: | Automatically at par plus coupon if each stock closes at or above its initial level on any quarterly call observation date after one year
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| Initial levels: | $172.57 for UPS, $222.77 for FedEx
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| Coupon barriers: | $103.54 for UPS, $133.66 for FedEx; 60% of initial levels
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| Final barriers: | $103.54 for UPS, $133.66 for FedEx; 60% of initial levels
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| Pricing date: | April 26
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| Settlement date: | April 28
|
| Agent: | Barclays
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| Fees: | 2.85%
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| Cusip: | 06745M6B9
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