By Wendy Van Sickle
Columbus, Ohio, Nov. 24 – Barclays Bank plc priced $22.58 million of contingent income autocallable securities due Nov. 22, 2024 linked to the shares of Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the shares close at or above the downside threshold level, 75% of the initial level, on any quarterly observation date the notes will pay a coupon at an annual rate of 10.75%.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price 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 be fully exposed to the loss.
Barclays is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Valero Energy Corp.
|
| Amount: | $22,584,460
|
| Maturity: | Nov. 22, 2024
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| Coupon: | 10.75% per year, payable quarterly if shares close at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, full exposure to loss
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
|
| Initial share price: | $69.07
|
| Downside threshold: | $44.896; 75% of initial share price
|
| Pricing date: | Nov. 19
|
| Settlement date: | Nov. 24
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06747Y423
|
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