By Susanna Moon
Chicago, Nov. 5 – Barclays Bank plc priced $1.91 million of contingent income autocallable securities due Nov. 3, 2022 linked to the worse performing of the Russell 2000 index and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at an annual rate of 8.5% if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any determination date other than the final determination date.
The payout at maturity will be par unless either index finishes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
Barclays is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Russell 2000 and Euro Stoxx Banks
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| Amount: | $1,914,650
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| Maturity: | Nov. 3, 2022
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| Coupon: | 8.5% annualized, payable quarterly, if each index closes at or above its coupon barrier level on the observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to any losses of worse performing index
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| Call: | At par if each index closes at or above initial level on any quarterly determination date other than final date
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| Initial levels: | 1,161.863 for Russell, 137.66 for Stoxx Banks
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| Coupon barriers: | 75% of initial levels
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| Trigger levels: | 55% of initial levels
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 3%
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| Cusip: | 06743Q267
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