By Wendy Van Sickle
Columbus, Ohio, Oct. 9 – Barclays Bank plc priced $1 million of buffered autocallable contingent coupon notes due Oct. 6, 2022 linked to the SPDR S&P 500 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at a 9.1% annualized rate if the ETF closes at or above its 85% coupon barrier value on the related observation date, plus any previously unpaid coupon.
The notes will be callable at par if the ETF closes at or above its initial level on any quarterly call date.
The payout at maturity will be par unless the ETF finishes below 85% of initial level, in which case investors will lose 1.17647% for each 1% decline beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
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| Underlying ETF: | SPDR S&P 500 ETF
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| Amount: | $1 million
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| Maturity: | Oct. 6, 2022
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| Contingent coupon: | 9.1% payable quarterly if the ETF closes at or above 85% of initial level on related observation date, plus any previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below 85% of initial level; 1.17647% loss for each 1% decline beyond 15%
|
| Call: | At par if index closes at or above initial level on any quarterly observation date
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| Initial ETF level: | $333.84
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| Buffer level: | $283.76, 85% of initial levels
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| Pricing date: | Oct. 5
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| Settlement date: | Oct. 8
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| Agent: | Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06747QM95
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