By Taylor Fox
New York, Feb. 18 – Barclays Bank plc priced $10 million of contingent income autocallable securities due Feb. 2, 2022 linked to the common stock of Johnson & Johnson, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at an annual rate of 10.55% if the stock closes at or above its downside threshold level, 90% of its initial share price, on the observation date that month. Previously unpaid coupons will also be paid.
The notes will be automatically called at par if the stock closes at or above its initial share price on any monthly 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, payable either in shares or cash at issuer’s option.
Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Johnson & Johnson
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| Amount: | $10 million
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| Maturity: | Feb. 2, 2022
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| Coupon: | 10.55% annual rate, payable monthly if stock closes at or above downside threshold level on observation date that month; previously unpaid coupons will also be paid
|
| Price: | Par
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| 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, payable either in shares or cash at issuer’s option
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| Call: | Automatically at par if stock closes at or above initial share price on any monthly observation date
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| Initial share price: | $170.48
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| Downside threshold level: | $153.432, 90% of initial share price
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| Pricing date: | Jan. 28
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| Settlement date: | Feb. 2
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.2%
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| Cusip: | 06741WPV6
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