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Published on 3/12/2024 in the Prospect News Structured Products Daily.

New Issue: Barclays prices $10 million contingent income autocallables on biotech ETF

By Emma Trincal

New York, March 12 – Barclays Bank plc priced $10 million of contingent income autocallable securities due March 12, 2025 linked to the SPDR S&P Biotechnology ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 13.84% per annum if the underlying ETF closes at or above its 80% downside threshold on a monthly observation date. Previously unpaid coupons will also be paid.

The securities will be called automatically at par if the price of the underlying ETF is greater than or equal to its initial price on any monthly review date.

At maturity the payout will be par unless the ETF closes below its 80% downside threshold level in which case investors will lose 1.25% for every 1% that the ETF declines beyond 20%.

Barclays Capital Inc. is the agent. Morgan Stanley Wealth Management is the dealer.

Issuer:Barclays Bank plc
Issue:Contingent income autocallable securities
Underlying ETF:SPDR S&P Biotechnology ETF
Amount:$10 million
Maturity:March 12, 2025
Coupon:13.8396% annual rate, if the underlying ETF closes at or above its 80% downside threshold on the related monthly observation date; previously unpaid coupons will also be paid
Price:Par
Payout at maturity:Par unless the ETF closes below its downside threshold level in which case investors will lose 1.25% for every 1% that the ETF declines beyond 20%.
Call:Automatically if the price of the underlying ETF is greater than or equal to its initial price on any monthly review date
Initial level:$99.46
Downside threshold:$79.568, 80% of initial level
Pricing date:March 6
Settlement date:March 11
Agent:Barclays Capital Inc.
Dealer:Morgan Stanley Wealth Management
Fees:0.1%
Cusip:06745Q7H6

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