By Wendy Van Sickle
Columbus, Ohio, July 3 – Barclays Bank plc priced $2.2 million of phoenix autocallable notes due June 25, 2020 linked to the least performing of the common stocks of Newfield Exploration Co., Williams Partners LP and Halliburton 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 16.5% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date other than the final date.
The payout at maturity will be par unless any underlying asset finishes below its 70% trigger level, in which case investors will be exposed to any losses of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | Newfield Exploration Co., Williams Partners LP and Halliburton Co.
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| Amount: | $2.2 million
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| Maturity: | June 25, 2020
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| Coupon: | 16.5% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any asset finishes below 70% trigger, in which case 1% loss per 1% decline of the worst performing stock
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly call valuation date other than final date
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| Initial levels: | $30.78 for Newfield, $41.48 for Williams and $46.32 for Halliburton
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| Trigger levels: | $21.55 for Newfield, $29.04 for Williams and $32.42 for Halliburton, 70% of initial levels
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| Pricing date: | June 22
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| Settlement date: | June 29
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| Agent: | Barclays
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| Fees: | 2.25%
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| Cusip: | 06741WEE6
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