New Issue: Barclays prices $3 million contingent income autocalls on three banking stocks

By William Gullotti

Buffalo, N.Y., Oct. 20 – Barclays Bank plc priced $3 million of autocallable contingent income securities due Aug. 1, 2024 linked to the stocks of Citizens Financial Group, Inc., Fifth Third Bancorp and Signature Bank, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at the rate of 9.5% per year if each stock closes at or above its coupon barrier level, 70% of its initial level, on the corresponding observation date.

The notes will be automatically called at par plus coupon if each stock closes at or above its initial level on any quarterly observation date after six months.

If each stock finishes at or above its coupon barrier level, the payout at maturity will be par plus the final coupon. If the worst performer finishes below its coupon barrier but at or above its 60% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines from its initial level.

Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.

Issuer:	Barclays Bank plc
Issue:	Autocallable contingent income securities
Underlying stocks:	Citizens Financial Group, Inc., Fifth Third Bancorp, Signature Bank
Amount:	$3,000,000
Maturity:	Aug. 1, 2024
Coupon:	9.5% per year, payable quarterly if each stock closes at or above coupon barrier level on the corresponding observation date
Price:	Par of $10
Payout at maturity:	If each stock finishes at or above coupon barrier level, par plus the final coupon; if worst performer finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
Call:	Automatically at par plus coupon if each stock closes at or above initial level on any quarterly observation date after six months
Initial stock levels:	$44.32 for Citizens, $36.38 for Fifth Third, $230.04 for Signature
Coupon barrier levels:	$31.024 for Citizens, $25.466 for Fifth Third, $161.028 for Signature; 70% of initial levels
Downside threshold levels:	$26.592 for Citizens, $21.828 for Fifth Third, $138.024 for Signature; 60% of initial levels
Pricing date:	July 27
Settlement date:	July 30
Agent:	Barclays
Selected dealer:	Morgan Stanley Wealth Management
Fees:	2.5%
Cusip:	06747W286

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