By Wendy Van Sickle
Columbus, Ohio, July 5 – Barclays Bank plc priced $1.19 million of buffered phoenix autocallable notes due Dec. 31, 2025 linked to the least performing of the Financial Select Sector SPDR Fund and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each asset closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any observation date other than the final date, starting with the fourth date.
The payout at maturity will be par unless either asset falls by more than 20%, in which case investors will be exposed to any losses of the worst performing asset beyond 20%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered phoenix autocallable notes
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Underlying assets: | Financial Select Sector SPDR Fund and SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $1,188,000
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Maturity: | Dec. 31, 2025
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Coupon: | 9% annualized, payable quarterly if each asset closes at or above 80% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any asset falls by more than 20%, in which case exposure to any losses of worst performing asset beyond 20%
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Call: | At par plus contingent coupon if each asset closes at or above initial level on any observation date other than final date beginning with the fourth date
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Initial levels: | $26.69 for Financial and $42.46 for Oil & Gas
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Coupon barriers: | $21.35 for Financial and $33.97 for Oil & Gas; 80% of initial levels
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Pricing date: | June 26
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Settlement date: | June 29
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Agent: | Barclays
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Fees: | 4.25%
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Cusip: | 06746XDK6
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