By William Gullotti
Buffalo, N.Y., Sept. 28 – Barclays Bank plc priced $40.97 million of 0% autocallable market-linked step-up notes due Sept. 25, 2026 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 7% if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level, 125% 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 25%.
If the index declines by up to 10%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline beyond 10%.
BofA Securities, Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $40,966,550
|
| Maturity: | Sept. 25, 2026
|
| 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 25%; if the index declines up to 10%, par; otherwise, lose 1% for every 1% decline beyond 10%
|
| Call: | At par plus 7% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 2,259.041
|
| Step-up value: | 2,823.801; 125% of initial level
|
| Threshold value: | 2,033.137; 90% of initial level
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 30
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06747X482
|
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