By Kiku Steinfeld
Chicago, June 18 – Barclays Bank plc priced $25,000 of autocallable contingent interest notes due June 22, 2021 linked to the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12% if the stock closes at or above its 76.5% coupon barrier on the review date for that quarter. Coupon payments will include unpaid contingent coupons.
The notes will be called at par plus the contingent coupon and any unpaid coupons if the stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless the stock finishes below its 76.5% trigger level, in which case investors will be fully exposed to any losses.
Barclays is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Walt Disney Co.
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| Amount: | $25,000
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| Maturity: | June 22, 2021
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| Coupon: | 12% annualized, payable quarterly if stock closes at or above coupon barrier on review date that quarter, including previously unpaid contingent coupons
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon and any unpaid coupons unless stock finishes below trigger, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon plus any unpaid coupons if each stock closes at or above initial level on any review date other than final date
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| Initial levels: | $123.69
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| Coupon barrier: | $94.62, 76.5% of initial level
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| Trigger level: | $94.62, 76.5% of initial level
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| Pricing date: | June 5
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| Settlement date: | June 10
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| Underwriter: | Barclays
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
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| Cusip: | 06747PY78
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