By Wendy Van Sickle
Columbus, Ohio, June 16 – Barclays Bank plc priced $1.4 million of phoenix autocallable notes due May 25, 2023 linked to the common stock of HCA Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.05% per year if HCA shares close at or above the barrier price on the observation date for that quarter. Otherwise, no interest will be paid that quarter. The barrier price is 75% of the initial share price.
The notes will be called at par plus the contingent coupon if HCA shares close at or above the initial share price on any quarterly observation date after six months.
If the notes are not called and HCA shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | HCA Holdings, Inc. (NYSE: HCA)
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| Amount: | $1.4 million
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| Maturity: | May 25, 2023
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| Coupon: | Notes will pay contingent coupon at rate of 8.05% per year if HCA shares close at or above barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If HCA shares finish at or above barrier price, par plus contingent coupon; otherwise, full exposure to decline in share price
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| Call: | At par plus contingent coupon if HCA shares close at or above initial price on any quarterly observation date after six months
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| Initial share price: | $206.38
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| Barrier price: | $154.78, 75% of initial share price
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| Pricing date: | May 21
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| Settlement date: | May 26
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| Underwriter: | Barclays
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| Fees: | 2.35%
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| Cusip: | 06748ERP0
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