By Wendy Van Sickle
Columbus, Ohio, June 2 – Barclays Bank plc priced $10 million of 10.75% fixed-interest autocallable notes due May 23, 2022 linked to the VanEck Vectors Oil Services ETF , according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par plus the most recent coupon if the ETF closes at or above its initial level on any monthly call determination date.
If the notes are not called and the ETF finishes at or above 75% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1.3333% for each 1% decline of the ETF beyond the buffer.
Barclays is the agent with JPMorgan as placement agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Fixed-interest autocallable notes
|
| Underlying ETF: | VanEck Vectors Oil Services ETF
|
| Amount: | $10 million
|
| Maturity: | May 23, 2022
|
| Coupon: | 10.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if ETF finishes at or above buffer level; otherwise, 1.3333% loss for each 1% decline beyond buffer
|
| Call: | Automatically at par plus coupon if ETF closes at or above its initial level on any monthly call determination date
|
| Initial level: | $218.69
|
| Buffer level: | $164.02, 75% of initial level
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Agent: | Barclays with JPMorgan as placement agent
|
| Fees: | 0.25%
|
| Cusip: | 06748ES79
|
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