By Taylor Fox
New York, Dec. 21 – Barclays Bank plc priced $10 million of 12.75% fixed-coupon autocallable securities due Dec. 20, 2021 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the stock closes at or above its initial price, on a monthly determination date, the notes will be automatically called at par plus the coupon.
If the stock finishes at or above the 80% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, the payout will be a number of shares equal to $1,000 divided by the downside threshold level or, at the issuer’s option, a cash amount equal to the 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 stock: | General Electric Co.
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Amount: | $10 million
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Maturity: | Dec. 20, 2021
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Coupon: | 12.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par plus the coupon unless the final level of the stock is below 80% of initial level in which case 115.42013 General Electric shares, or the cash value at the issuer’s option
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Call: | Automatically at par if the stock closes at or above its redemption threshold level, 100% of initial level, on any monthly determination date
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Initial share price: | $10.83
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Downside threshold: | $8.664; 80% of initial levels
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Pricing date: | Dec. 15
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Settlement date: | Dec. 18
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Agent: | Barclays
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 0.2%
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Cusip: | 06747QTC1
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