New Issue: Barclays prices $1.75 million phoenix autocallables linked to Tesla

By Taylor Fox

New York, Nov. 23 – Barclays Bank plc priced $1.75 million of phoenix autocallable notes due Nov. 15, 2022 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 18.5% if the stock closes at or above its 55% coupon barrier on the related observation date.

The notes will be called automatically at par plus the contingent coupon if the stock closes at or above its initial price on any monthly call valuation date after three months.

The payout at maturity will be par unless the stock finishes below its 55% barrier price, in which case investors will lose 1% for each 1% decline below the initial price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stock:	Tesla, Inc.
Amount:	$1,747,000
Maturity:	Nov. 15, 2022
Coupon:	18.5% annual rate, payable monthly if stock closes at or above coupon barrier on observation date for that period
Price:	Par
Payout at maturity:	Par if Tesla shares finish at or above barrier price; otherwise, full exposure to losses
Call:	Automatically at par plus contingent coupon if Tesla shares close at or above initial price on a monthly observation date after three months
Initial share price:	$410.36
Coupon barrier/barrier levels:	$225.70, 55% of initial price
Pricing date:	Nov. 10
Settlement date:	Nov. 13
Underwriters:	Barclays
Fees:	3%
Cusip:	06741WLX6

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