By Wendy Van Sickle
Columbus, Ohio, March 27 – Barclays Bank plc priced $8.21 million of contingent income autocallable securities due March 26, 2021 linked to the American Despository shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its 70% coupon barrier on the determination date that quarter.
The notes will be called at par if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses.
Barclays is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Alibaba Group Holding Ltd.
|
| Amount: | $8,208,100
|
| Maturity: | March 26, 2021
|
| Coupon: | 10% annualized, payable quarterly if stock closes at or above 70% coupon barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par if stock closes at or above its initial level on any determination date other than the final date
|
| Initial level: | $181.20
|
| Downside threshold: | $126.84, 70% of initial level
|
| Pricing date: | March 23
|
| Settlement date: | March 28
|
| Agent: | Barclays with Morgan Stanley Wealth Management as a distributor
|
| Fees: | 2.5%
|
| Cusip: | 06746Q199
|
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