By Wendy Van Sickle
Columbus, Ohio, June 1 – Barclays Bank plc priced $27.21 million of 0% autocallable market-linked step-up notes due June 3, 2024 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 8.45% if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level – 130% 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 30%.
Investors will be exposed to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000
|
| Amount: | $27,211,040
|
| Maturity: | June 3, 2024
|
| 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 30%; investors will lose 1% for every 1% that the index declines
|
| Call: | At par plus 8.45% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 2,273.073
|
| Step-up value: | 2,954.995, 130% of initial level
|
| Pricing date: | May 27
|
| Settlement date: | June 4
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06747T770
|
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