By Tali Rackner
Minneapolis, July 11 – Barclays Bank plc priced $6.2 million of contingent income autocallable securities due July 9, 2021 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
If Alibaba ADS close at or above the downside threshold level, 70% of the initial price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 10%.
The notes will be called at par of $10 plus the contingent coupon if Alibaba ADS close at or above the initial price on any determination date other than the final one.
If the final 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 lose 1% for every 1% that the final price is less than the initial price.
Barclays is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Alibaba Group Holding Ltd. (Symbol: BABA)
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| Amount: | $6,203,430
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| Maturity: | July 9, 2021
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| Coupon: | 10% annualized, payable quarterly if Alibaba ADS close at or above downside threshold on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If shares finish at or above downside threshold, par plus final coupon; otherwise, 1% loss for each 1% decline
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| Call: | At par if shares close at or above initial level on any determination date other than the final date
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| Initial level: | $192.27
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| Downside threshold: | $134.589, 70% of initial level
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| Pricing date: | July 6
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| Settlement date: | July 11
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| Agent: | Barclays with Morgan Stanley Wealth Management as a distributor
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| Fees: | 2.5%
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| Cusip: | 06746T615
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