By Kiku Steinfeld
Chicago, July 6 – Barclays Bank plc priced $580,000 of autocallable contingent interest notes due July 14, 2021 linked to the common stock of RH, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.6% if the stock closes at or above its 61% coupon barrier on the review date for that quarter. Coupon payments will include unpaid contingent coupons.
The notes will be called at par 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 61% trigger level, in which case investors will lose 1.63934% for every 1% that the least-performing index finishes below its initial level.
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
|
| Underlying stock: | RH
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| Amount: | $580,000
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| Maturity: | July 14, 2021
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| Coupon: | 10.6% annualized, payable quarterly if stock closes at or above 61% coupon barrier on review date that quarter, including previously unpaid contingent coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below trigger, in which case 1.63934% loss for each 1% decline
|
| Call: | At par if each stock closes at or above initial level on any review date other than final date
|
| Initial levels: | $254.24
|
| Coupon barrier: | $155.09, 61% of initial level
|
| Trigger level: | $155.09, 61% of initial level
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| Pricing date: | June 26
|
| Settlement date: | July 1
|
| Underwriter: | Barclays
|
| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 06747Q3N5
|
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