Chicago, Nov. 3 – Barclays Bank plc priced $8.19 million of contingent income autocallable securities due Oct. 30, 2026 linked to the common stock of Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a quarterly coupon of 11.5% if the underlying stock closes at or above its 60% downside threshold on the related observation date.
The securities will be called automatically starting Jan. 29, 2024 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the stock closes below its 60% downside threshold level in which case investors will be fully exposed to the decline of the stock.
Barclays Capital Inc. is the agent. Morgan Stanley Wealth Management is the selected dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Occidental Petroleum Corp. (Ticker: OXY)
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| Amount: | $8.19 million
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| Maturity: | Oct. 30, 2026
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| Coupon: | 11.5% annual rate, payable quarterly if the underlying stock closes at or above its 60% downside threshold on the related observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically starting Jan. 29, 2024 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial level: | $62.23
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| Downside threshold: | $37.338, 60% of initial level
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| Pricing date: | Oct. 27
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| Settlement date: | Nov. 1
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| Agent: | Barclays Capital Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.25%
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| Cusip: | 06745NTS5
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