By William Gullotti
Buffalo, N.Y., June 7 – Barclays Bank plc priced $735,000 of autocallable contingent coupon equity-linked notes due Aug. 17, 2022 linked to the common stock of Tesla, 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 17.75% if the stock closes at or above its coupon trigger level, 50% of the initial price, on the determination date for that period.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date after six months.
The payout at maturity will be par if the stock finishes above its initial level. The payout will also be par if the stock never finishes below its 50% barrier level any day during the life of the notes. Otherwise, investors will lose 1% for each 1% decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stock: | Tesla, Inc.
|
| Amount: | $735,000
|
| Maturity: | Aug. 17, 2022
|
| Coupon: | 17.75% per year, payable monthly if shares close at or above coupon trigger level on a related determination date
|
| Price: | Par
|
| Payout at maturity: | Par if stock finishes above initial level; par if stock never finishes below barrier level on any day during life of notes; otherwise, full exposure to losses of stock
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date after six months
|
| Initial share price: | $589.89
|
| Coupon trigger level: | $294.94; 50% of initial share price
|
| Trigger level: | $294.94; 50% of initial share price
|
| Pricing date: | May 12
|
| Settlement date: | May 17
|
| Agent: | Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06748EQR7
|
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