By William Gullotti
Buffalo, N.Y., June 25 – Barclays Bank plc priced $4.38 million of phoenix autocallable notes due June 27, 2024 linked to the performance of Ford Motor Co., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14% if the stock closes at or above its 73.5% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if the stock closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless the stock finishes below 73.5% of its initial value in which case investors will be fully exposed to the decline of stock from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Ford Motor Co.
|
| Amount: | $4,375,000
|
| Maturity: | June 27, 2024
|
| Coupon: | 14% annualized, payable quarterly if stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless underlying stock finishes below final barrier, in which case full exposure to decline of stock from its initial level
|
| Call: | At par plus contingent coupon if underlying stock closes at or above initial level on any quarterly call observation date
|
| Initial level: | $14.91
|
| Coupon barrier: | $10.96; 73.5% of initial level
|
| Final barrier: | $10.96; 73.5% of initial level
|
| Strike date: | June 22
|
| Pricing date: | June 23
|
| Settlement date: | June 28
|
| Agent: | Barclays
|
| Fees: | 2%
|
| Cusip: | 06748EYU1
|
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