By William Gullotti
Buffalo, N.Y., July 15 – Barclays Bank plc priced $2.69 million of phoenix autocallable notes due Aug. 17, 2022 linked to the performance of Ford Motor Co., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.65% if the stock closes at or above its 68% 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 monthly call observation date after six months.
The payout at maturity will be par unless the stock finishes below 68% of its initial value in which case investors will be fully exposed to the losses of the stock, payable either as cash or shares at the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Ford Motor Co.
|
| Amount: | $2,688,000
|
| Maturity: | Aug. 17, 2022
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| Coupon: | 10.65% annualized, payable monthly 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 loss of stock, payable in shares or cash at issuer’s option
|
| Call: | At par plus contingent coupon if underlying stock closes at or above initial level on any monthly call observation date after six months
|
| Initial level: | $14.61
|
| Coupon barrier: | $9.93; 68% of initial level
|
| Final barrier: | $9.93; 68% of initial level
|
| Physical delivery: | 68 shares per note
|
| Pricing date: | July 12
|
| Settlement date: | July 15
|
| Agent: | Barclays
|
| Fees: | 0.65%
|
| Cusip: | 06741W2C3
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