By William Gullotti
Buffalo, N.Y., June 2 – Barclays Bank plc priced $2.53 million of callable contingent coupon notes May 30, 2025 linked to the stock performance of Foot Locker, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 24.15% if the stock closes at or above its coupon barrier level, 50% 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 call valuation date.
If the notes are not redeemed early, the payout will be par plus the final coupon unless the stock finishes below 50% of its initial level, in which case investors will receive a number of shares per note equal to $1,000 divided by the stock’s initial share price or, at the issuer’s option, the cash equivalent.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying stock: | Foot Locker, Inc.
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| Amount: | $2,525,000
|
| Maturity: | May 30, 2025
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| Contingent coupon: | 24.15% per year, payable quarterly if the stock closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless the stock finishes below its final barrier level, in which case investors will receive 38.2263 shares per note or, at the issuer’s option, the cash equivalent
|
| Call option: | In whole at par plus any coupon due on any quarterly call valuation date
|
| Initial levels: | $26.16
|
| Coupon barrier levels: | $13.08; 50% of initial levels
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| Final barrier levels: | $13.08; 50% of initial levels
|
| Strike date: | May 24
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| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06741W5D8
|
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