By Kiku Steinfeld
Chicago, Sept. 1 – Barclays Bank plc priced $3.02 million of phoenix autocallable notes due Sept. 22, 2022 linked to the performance of the shares of ViacomCBS Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if the stock closes at or above its 69% coupon barrier on a related observation date.
The notes will be called at par if the stock closes at or above its initial level on any monthly call observation date after six months.
If the notes are not called and the stock finishes at or above its final barrier price, 69% of its initial share price, the payout at maturity will be par. Otherwise, investors will receive a fixed number of shares of the worst performer equal to $1,000 divided by initial price or, at the issuer’s option, the cash equivalent.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | ViacomCBS Inc.
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| Amount: | $3,021,000
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| Maturity: | Sept. 22, 2022
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| Coupon: | 10% annualized, payable monthly if stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below final barrier, in which case 25.22704 shares or cash
|
| Call: | At par if stock closes at or above initial level on any monthly call observation date after six months
|
| Initial level: | $39.64
|
| Coupon barrier: | $27.35; 69% of initial level
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| Final barrier: | $27.35; 69% of initial level
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| Pricing date: | Aug. 19
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| Settlement date: | Aug. 24
|
| Agent: | Barclays
|
| Fees: | 2.15%
|
| Cusip: | 06741WA34
|
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