By Sarah Lizee
Olympia, Wash., July 6 – Barclays Bank plc priced $27.7 million of 0% autocallable market-linked step-up notes due June 30, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 14.5% if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level – 135% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 35%.
Investors will be fully exposed to any index.
BofA Securities, Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000
|
| Amount: | $27,698,310
|
| Maturity: | June 30, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 35%; full exposure to any index decline
|
| Call: | At par plus 14.5% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 1,413.315
|
| Step-up value: | 1,907.975, 135% of initial level
|
| Pricing date: | June 25
|
| Settlement date: | July 2
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06747H347
|
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