By William Gullotti
Buffalo, N.Y., July 26 – Barclays Bank plc priced $5.68 million of phoenix autocallable notes due May 31, 2024 linked to the performance of ViacomCBS Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 22.65% if the stock closes at or above its 80% 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.
If the notes are not called and the stock finishes at or above its final barrier price, 80% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline in the stock price from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | ViacomCBS Inc.
|
| Amount: | $5,682,000
|
| Maturity: | May 31, 2024
|
| Coupon: | 22.65% annualized, payable quarterly if stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless underlying stock finishes below final barrier, in which case investors will lose 1% for each 1% decline of stock price from initial level
|
| Call: | At par plus contingent coupon if underlying stock closes at or above initial level on any quarterly call observation date
|
| Initial level: | $42.42
|
| Coupon barrier: | $33.94; 80% of initial level
|
| Final barrier: | $33.94; 80% of initial level
|
| Pricing date: | May 28
|
| Settlement date: | June 3
|
| Agent: | Barclays
|
| Fees: | 2%
|
| Cusip: | 06748ETD5
|
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