By Sarah Lizee
Olympia, Wash., Dec. 30 – Barclays Bank plc priced $2.2 million of phoenix autocallable notes due Dec. 23, 2021 linked to the common shares of Hanesbrands Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 15% per year if the stock closes at or above its coupon barrier price, 67.5% of its initial price, on the related observation date.
The notes will be called at par plus the coupon if the stock closes at or above its initial price on any quarterly call observation date after six months.
The payout at maturity will be par unless the stock finishes below its 67.5% knock-in level, in which case investors will lose 1% for the 1% decline. In that case, Barclays may elect to exercise its physical settlement option, under which investors will receive 68 Hanesbrands shares and a cash payment equal to 0.39945 shares times the final value of the stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying stock: | Hanesbrands Inc.
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| Amount: | $2,196,000
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| Maturity: | Dec. 23, 2021
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| Coupon: | 15% payable quarterly if the stock closes at or above its coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below knock-in level, in which case investors will lose 1% for the 1% decline; Barclays may elect to exercise physical settlement option, under which investors will receive 68 Hanesbrands shares and a cash payment equal to 0.39945 shares times the final value of the stock
|
| Call: | At par plus coupon if the stock closes at or above its initial price on any quarterly call observation date after six months
|
| Initial price: | $14.62
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| Coupon barrier: | $9.87, 67.5% of initial price
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| Knock-in price: | $9.87, 67.5% of initial price
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 26
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| Agent: | Barclays
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| Fees: | 1.75%
|
| Cusip: | 06741WFV7
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