By Kiku Steinfeld
Chicago, Dec. 7 – Barclays Bank plc priced $1.14 million of phoenix autocallable notes due Aug. 23, 2024 linked to the stock of United Airlines Holdings, Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.45% if the stock closes at or above its 65% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if the stock closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless the stock finishes below 65% of its initial value in which case investors will be fully exposed to the losses of the stock.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying stock: | United Airlines Holdings, Inc.
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Amount: | $1,143,000
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Maturity: | Aug. 23, 2024
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Coupon: | 14.45% annualized, payable quarterly if stock closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par unless underlying stock finishes below final barrier, in which case full exposure to loss of stock
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Call: | At par plus contingent coupon if underlying stock closes at or above initial level on any quarterly call observation date
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Initial level: | $44.03
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Coupon barrier: | $28.62; 65% of initial level
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Final barrier: | $28.62; 65% of initial level
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Pricing date: | Aug. 20
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Settlement date: | Aug. 25
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Agent: | Barclays
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Fees: | 2.75%
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Cusip: | 06748WDK6
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