By Wendy Van Sickle
Columbus, Ohio, Feb. 17 – Barclays Bank plc priced $10 million of autocallable contingent income securities due Feb. 8, 2022 linked to the shares of Invesco QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 11.7% per year if the fund closes at or above its coupon barrier, 80% of its initial share price, on the observation date that month.
The notes will be automatically called at par if the fund closes at or above its initial share price on any monthly observation date.
If the fund finishes at or above the 80% downside threshold level, the payout at maturity will be par. Otherwise, investors will receive 3.87693 QQQ shares of the cash equivalent.
Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent income securities
|
| Underlying fund: | Invesco QQQ Trust, series 1
|
| Amount: | $10 million
|
| Maturity: | Feb. 8, 2022
|
| Coupon: | 11.7% per year, payable monthly if fund closes at or above coupon threshold level on observation date that month
|
| Price: | Par
|
| Payout at maturity: | If fund finishes at or above downside threshold level, par; otherwise, 3.87693 QQQ shares of the cash equivalent
|
| Call: | Automatically at par if fund closes at or above initial share price on any monthly observation date
|
| Initial share price: | $322.42
|
| Coupon barrier: | $257.936, 80% of initial share price
|
| Downside threshold: | $257.936, 80% of initial share price
|
| Pricing date: | Feb. 3
|
| Settlement date: | Feb. 8
|
| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 0.2%
|
| Cusip: | 06741WQN3
|
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