By Susanna Moon
Chicago, Aug. 12 – Barclays Bank plc priced $2.63 million of contingent income autocallable securities due Aug. 10, 2018 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
If Alibaba shares close at or above the barrier level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annual rate of 10.65%.
The notes will be called at par of $10 plus the contingent coupon if Alibaba shares close at or above the initial share price on any determination date other than the final date.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below the barrier level, in which case investors will receive a number of Alibaba shares equal to $10 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Barclays is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Alibaba Group Holding Ltd. (Symbol: )
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| Amount: | $2,632,710
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| Maturity: | Aug. 10, 2018
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| Coupon: | 10.65% annualized, payable quarterly if Alibaba Motors stock closes at or above barrier level on quarterly determination date
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if Alibaba stock finishes at or above barrier; otherwise, a number of Alibaba shares equal to $10 divided by initial share price
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| Call: | At par plus contingent payment if Alibaba stock closes at or above initial share price on any determination date other than the final date
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| Initial level: | $78.82
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| Trigger level: | $63.056, 80% of initial price
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| Pricing date: | Aug. 7
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| Settlement date: | Aug. 12
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 06743Q762
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