By Wendy Van Sickle
Columbus, Ohio, March 15 – Barclays Bank plc priced $800,000 of phoenix autocallable notes due March 17, 2022 linked to the least-performing of the SPDR S&P 500 exchange-traded fund Trust and the SPDR Euro Stoxx 50 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annualized rate of 7.5% if each fund closes at or above the barrier level – 60% of the initial price – on a semiannual observation date after one year.
The notes will be called at par plus the contingent coupon if each fund closes at or above the initial price on any observation date.
The payout at maturity will be par plus the contingent coupon unless the least-performing fund finishes below the 60% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying ETFs: SPDR S&P 500 exchange-traded fund Trust and SPDR Euro Stoxx 50 exchange-traded fund
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| Amount: | $800,000
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| Maturity: | March 17, 2022
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| Coupon: | 7.5%, payable semiannually after one year if each fund closes at or above barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless least-performing fund finishes below 60% barrier level, in which case 1% loss for each 1% decline of least-performing fund
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| Call: | Automatically at par plus contingent coupon if each fund closes at or above initial price on any observation date
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| Initial levels: | $237.69 for SPDR S&P 500, $35.53 for SPDR Euro Stoxx 50
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| Barrier levels: | $142.61 for SPDR S&P 500, $21.32 for SPDR Euro Stoxx 50; 60% of initial levels
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| Pricing date: | March 10
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| Settlement date: | March 17
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| Agents: | Barclays
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| Fees: | 1.6%
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| Cusip: | 06741VNL2
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