By Marisa Wong
Los Angeles, Oct. 14 – Barclays Bank plc priced $20 million of 12.35% fixed-coupon autocallable securities due Oct. 15, 2021 linked to the American depositary shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon of $10.2917 per $1,000 note.
The notes will be called at par if the shares close at or above the initial share price on any monthly determination date other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, 80% of the initial price, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the stock equal to $1,000 divided by the downside threshold level or, at the issuer’s option, the cash value of those shares.
Barclays is the agent, with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Fixed-coupon autocallable securities
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| Underlying ADSs: | Alibaba Group Holding Ltd. (Symbol: BABA)
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| Amount: | $20 million
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| Maturity: | Oct. 15, 2021
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| Coupon: | About 12.35% per year, monthly payment of 1.02917%
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| Price: | Par of $1,000
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| Payout at maturity: | If final share price is greater than or equal to downside threshold, par; otherwise, 4.17032 shares per note or, at issuer’s option, cash value of those shares
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| Call: | At par if shares close at or above initial share price on any monthly determination date other than final date
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| Initial share price: | $299.74
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| Downside threshold: | $239.79, 80% of initial share price
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| Strike date: | Oct. 9
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| Pricing date: | Oct. 12
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| Settlement date: | Oct. 15
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management handling distribution
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| Fees: | 0.2%
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| Cusip: | 06741WLG3
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