By Susanna Moon
Chicago, Sept. 27 – Barclays Bank plc priced $1.8 million of phoenix autocallable notes due Sept. 25, 2019 linked to the least performing of the common stocks of Newfield Exploration Co., Williams Partners LP and Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 16% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly observation date other than the final date.
The payout at maturity will be par unless any stock finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Newfield Exploration Co. (Symbol: NFX), Williams Partners LP (Symbol: WPZ) and Halliburton Co. (Symbol: HAL)
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| Amount: | $1.8 million
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| Maturity: | Sept. 25, 2019
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| Coupon: | 16% per year, payable quarterly if each stock closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger level; otherwise, number of shares of worst performing stock – either 34.89184 Newfield shares, 25.72678 Williams shares or 22.93052 Halliburton shares
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| Call: | At par plus contingent coupon if stocks close at or above initial levels on any quarterly observation date other than final date
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| Initial levels: | $28.66 for Newfield, $38.87 for Williams and $43.61 for Halliburton
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| Trigger levels: | $20.06 for Newfield, $27.21 for Williams and $30.53 for Halliburton; 70% of initial levels
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 27
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| Agent: | Barclays
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| Fees: | 2.25%
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| Cusip: | 06741WCY4
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