Chicago, April 15 – Barclays Bank plc priced $500,000 of autocallable contingent coupon notes due Jan. 22, 2027 linked to the common stock performance of Schlumberger NV, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.75% if the stock closes at or above its coupon trigger level, 60% of the initial price, on the determination date for that period. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be automatically called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date after six months.
The payout at maturity will be par plus any final coupon unless the stock finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline from the initial share price, payable in cash or shares at the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
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| Underlying stock: | Schlumberger NV
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| Amount: | $500,000
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| Maturity: | Jan. 22, 2027
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| Coupon: | 8.75% per year, payable monthly if shares close at or above coupon trigger level on a related determination date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus any final coupon unless the stock finishes below its trigger level, in which case investors will lose 1% for each 1% decline from the initial share price, payable as 20.59308 shares or cash at the issuer’s option
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date after six months
|
| Initial share price: | $48.56
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| Coupon trigger level: | $29.14; 60% of initial share price
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| Trigger level: | $29.14; 60% of initial share price
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| Physical delivery amount: | 20.59308 shares
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
|
| Agent: | Barclays
|
| Fees: | 3%
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| Cusip: | 06744EDC8
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