By Wendy Van Sickle
Columbus, Ohio, April 17 – Barclays Bank plc priced $10 million of 9.84996% fixed coupon autocallable securities due April 20, 2021 linked to the American Depository shares of Alibaba Group Holding Ltd., 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 a 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 Alibaba 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
|
| Issue: | Fixed coupon autocallable securities
|
| Underlying stock: | Alibaba Group Holding Ltd.
|
| Amount: | $10 million
|
| Maturity: | April 20, 2021
|
| Coupon: | 9.84996%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon unless the final level of the stock is below 80% of initial level in which case 6.04069 Alibaba shares
|
| Call: | Automatically at par if the stock closes at or above its redemption threshold level, 100% of initial level, on a monthly determination date
|
| Initial share price: | $206.93
|
| Downside threshold: | $165.544; 80% of initial levels
|
| Pricing date: | April 15
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| Settlement date: | April 20
|
| Underwriter: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 0.2%
|
| Cusip: | 06741WGL8
|
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