New Issue: Barclays prices $3.44 million phoenix autocallables linked to PayPal

By Taylor Fox

New York, Oct. 26 – Barclays Bank plc priced $3.44 million of phoenix autocallable notes due Sept. 29, 2021 linked to the common stock of PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 13.25% if the stock closes at or above its 70% coupon barrier on the related quarterly observation date.

The notes will be called automatically at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly call valuation date.

The payout at maturity will be par unless the stock finishes below its 70% barrier price, in which case investors will lose 1% for each 1% decline below the initial price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stock:	PayPal Holdings, Inc.
Amount:	$3,441,000
Maturity:	Sept. 29, 2021
Coupon:	13.25% annual rate, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter
Price:	Par
Payout at maturity:	Par if PayPal shares finish at or above barrier price; otherwise, full exposure to losses
Call:	Automatically at par plus contingent coupon if PayPal shares close at or above initial price on a quarterly observation date
Initial share price:	$182.19
Coupon barrier/barrier levels:	$127.53, 70% of initial price
Pricing date:	Sept. 24
Settlement date:	Sept. 29
Underwriters:	Barclays
Fees:	1.25%
Cusip:	06741WKW9

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