By Wendy Van Sickle
Columbus, Ohio, March 28 – Barclays Bank plc priced $5.24 million of contingent income autocallable securities due March 27, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the downside threshold level, 80% of the initial index level, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 8%.
The notes will be called at par plus the contingent coupon if the index closes at or above the initial index level on any quarterly determination date other than the final determination date.
If the final index level is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Euro Stoxx 50
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| Amount: | $5,243,000
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| Maturity: | March 27, 2020
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| Coupon: | 8% per year, payable quarterly if index closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If index finishes at or above downside threshold, par plus last coupon; otherwise, full exposure to any losses
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any determination date other than the final date
|
| Initial level: | 3,444.15
|
| Downside threshold: | 2,755.32, 80% of initial level
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| Pricing date: | March 24
|
| Settlement date: | March 29
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| Agent: | Barclays
|
| Dealer: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2.5%
|
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| Cusip: | 06741VPR7
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