By Taylor Fox
New York, Oct. 26 – Barclays Bank plc priced $10 million of 9.6% fixed-coupon autocallable securities due Sept. 29, 2021 linked to the common stock of Tiffany & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the stock closes at or above its initial price, on any monthly determination date, the notes will be automatically called at par plus the coupon.
If the stock finishes at or above the 80% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, the payout will be a number of Tiffany shares equal to $1,000 divided by the downside threshold level or, at the issuer’s option, a cash amount equal to the value of those shares.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Fixed-coupon autocallable securities
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| Underlying stock: | Tiffany & Co.
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| Amount: | $10 million
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| Maturity: | Sept. 29, 2021
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| Coupon: | 9.6%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the final level of the stock is below 80% of initial level in which case 10.73699 Tiffany shares
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| Call: | Automatically at par if the stock closes at or above its redemption threshold level, its initial level, on a monthly determination date
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| Initial share price: | $116.42
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| Downside threshold: | $93.136; 80% of initial levels
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| Pricing date: | Sept. 24
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| Settlement date: | Sept. 29
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| Underwriter: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.2%
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| Cusip: | 06747QKF3
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