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
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| Issue: | Contingent income autocallable securities
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| Underlying ETF: | SPDR S&P Biotechnology ETF
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| Amount: | $10 million
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| Maturity: | March 12, 2025
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| 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
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| Price: | Par
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| 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%.
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| Call: | Automatically if the price of the underlying ETF is greater than or equal to its initial price on any monthly review date
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| Initial level: | $99.46
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| Downside threshold: | $79.568, 80% of initial level
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| Pricing date: | March 6
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| Settlement date: | March 11
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| Agent: | Barclays Capital Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.1%
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| Cusip: | 06745Q7H6
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