By Susanna Moon
Chicago, Aug. 22 – Barclays Bank plc priced $9.18 million of phoenix autocallable notes due Aug. 22, 2019 linked to the least performing of the iShares Nasdaq Biotechnology ETF, the Financial Select Sector SPDR fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.75% if each fund closes at or above its coupon barrier, 75% of its initial level, on the observation date for that month.
The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any quarterly observation date after one year other than the final date.
The payout at maturity will be par unless any fund finishes below its 75% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying funds: | iShares Nasdaq Biotechnology ETF, Financial Select Sector SPDR fund and Technology Select Sector SPDR fund
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| Amount: | $9.18 million
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| Maturity: | Aug. 22, 2019
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| Coupon: | 10.75% per year, payable monthly if each fund closes at or above 75% coupon barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each fund finishes at or above trigger level; otherwise, full exposure to decline of worst performing fund
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| Call: | At par plus contingent coupon if funds close at or above initial levels on any quarterly observation date other than final date
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| Initial levels: | $304.81 for biotechnology fund, $24.61 for financial fund and $57.13 for technology fund
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| Triggers: | $228.61 for biotechnology fund, $18.46 for financial fund and $42.85 for technology fund; 75% of initial levels
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| Pricing date: | Aug. 17
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| Settlement date: | Aug. 22
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06741WCT5
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