By Kiku Steinfeld
Chicago, March 7 – Barclays Bank plc priced $1.65 million of 13.35% autocallable fixed-coupon notes due March 17, 2023 linked to the common stock of Moderna, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if the stock closes at or above its initial level on any quarterly call date starting in June 2022.
If the notes are not called, the payout at maturity will be par unless the stock finishes below 65% of its initial level, in which cases investors will lose 1% for each 1% loss of the stock, payable either in shares or the cash equivalent at the issuer’s option.
Barclay is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed-coupon notes
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| Underlying stock: | Moderna, Inc.
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| Amount: | $1.65 million
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| Maturity: | March 17, 2023
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| Coupon: | 13.35%, payable monthly
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| Price: | Par
|
| Call: | At par if stock closes at or above initial level on any quarterly call date starting in June 2022
|
| Payout at maturity: | Par unless stock finishes below barrier level, in which case 2.33803 shares or cash at issuer’s option
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| Initial level: | $427.71
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| Barrier level: | $278.01, 65% of initial level
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 17
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| Agent: | Barclays
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| Fees: | 1.25%
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| Cusip: | 06741WD64
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