By William Gullotti
Buffalo, N.Y., Feb. 1 – Barclays Bank plc priced $1.43 million of market-linked securities due Jan. 22, 2027 – autocallable with contingent coupon and contingent downside linked to the stock performance of Chevron Corp., the Microsoft Corp. and the UnitedHealth Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 13.2% if each stock closes at or above its 70% coupon barrier on the relevant observation date for that period.
The notes will be called at par plus coupon if each stock closes at or above its initial level on any quarterly observation date after six months.
At maturity, the payout will be par plus the final coupon if each stock finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above the 60% threshold level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying stocks: | Chevron Corp., Microsoft Corp., UnitedHealth Group Inc.
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| Amount: | $1.43 million
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| Maturity: | Jan. 22, 2027
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| Coupon: | 13.2% annualized, payable monthly if each stock closes at or above coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above coupon barrier; if worst performer finishes below coupon barrier but at or above threshold level, par; otherwise, lose 1% for each 1% decline of worst performer from initial level
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| Call: | At par plus coupon if each stock closes at or above its initial level on any interest payment date after six months
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| Initial levels: | $143.12 for Chevron, $389.47 for Microsoft, $524.94 for UnitedHealth
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| Coupon barriers: | $100.184 for Chevron, $272.629 for Microsoft, $367.458 for UnitedHealth; 70% of initial levels
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| Threshold levels: | $85.872 for Chevron, $233.682 for Microsoft, $314.964 for UnitedHealth; 60% of initial levels
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 22
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| Agents: | Wells Fargo Securities, LLC and Barclays Capital Inc.
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| Fees: | 2.325%
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| Cusip: | 06745PJS1
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