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Published on 11/4/2020 in the Prospect News Structured Products Daily.

New Issue: Barclays prices $7.11 million contingent income autocalls on Tesla

By Wendy Van Sickle

Columbus, Ohio, Nov. 4 – Barclays Bank plc priced $7.11 million of autocallable contingent income securities due Nov. 2, 2023 linked to the common shares of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of 20% per year if the stock closes at or above its downside threshold level, 53.75% of its initial share price, on the observation date that quarter.

The notes will be automatically called at par of $10 if the stock closes at or above its initial share price on any quarterly observation date.

If the stock finishes at or above the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the stock declines from its initial share price.

Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.

Issuer:Barclays Bank plc
Issue:Autocallable contingent income securities
Underlying stock:Tesla, Inc.
Amount:$7,106,610
Maturity:Nov. 2, 2023
Coupon:20% per year, payable quarterly if stock closes at or above downside threshold level on observation date that quarter
Price:Par of $10.00
Payout at maturity:If stock finishes at or above downside threshold level, par; otherwise, 1% loss for every 1% that stock declines from initial share price
Call:Automatically at par if stock closes at or above initial share price on any quarterly observation date
Initial share price:$388.04
Downside threshold:$208.572, 53.75% of initial share price
Pricing date:Oct. 30
Settlement date:Nov. 4
Agent:Barclays
Selected dealer:Morgan Stanley Wealth Management
Fees:2.5%
Cusip:06747K175

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