By Kiku Steinfeld
Chicago, Sept. 14 – Barclays Bank plc priced $1.5 million of phoenix autocallable notes due Sept. 3, 2021 linked to the SPDR S&P Homebuilders ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.65% if the ETF closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial level on any quarterly valuation date.
The payout at maturity will be par unless the ETF finishes below its 75% trigger level, in which case investors will be exposed to the decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying ETF: | SPDR S&P Homebuilders ETF
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| Amount: | $1.5 million
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| Maturity: | Sept. 3, 2021
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| Coupon: | 11.65% annualized, payable quarterly if ETF closes at or above 75% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless ETF finishes below 75% trigger level, in which case 1% loss per 1% decline of ETF
|
| Call: | At par plus contingent coupon if ETF closes at or above initial level on any quarterly valuation date other than final date
|
| Initial level: | $52.75
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| Trigger level: | $39.56, 75% of initial level
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| P Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Agent: | Barclays
|
| Fees: | 1.25%
|
| Cusip: | 06747QGB7
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