New Issue: Barclays sells $1.1 million non-callable reversed convertibles on Tesla

By Kiku Steinfeld

Chicago, Jan. 22 – Barclays Bank plc priced $1.1 million of 18.1% of non-callable reverse convertible notes due Jan. 20, 2022 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par of $10,000 unless the shares finish below the 55% barrier level, in which case investors will receive a number of shares equal to $10,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Non-callable reversed convertible notes
Underlying stock:	Tesla, Inc.
Amount:	$1.1 million
Maturity:	Jan. 20, 2022
Coupon:	18.1% per year, payable monthly
Price:	Par of $10,000
Payout at maturity:	Par unless stock finishes below barrier price, in which case 11.83432 shares or cash
Initial level:	$845.00
Barrier prices:	$464.75, 55% of initial share price
Pricing date:	Jan. 14
Settlement date:	Jan. 20
Agent:	Barclays
Fees:	1%
Cusip:	06741WNX4

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