By Wendy Van Sickle
Columbus, Ohio, Feb. 25 – Barclays Bank plc priced $10 million of autocallable contingent income securities due Feb. 24, 2022 linked to the common stock of Royal Caribbean Cruises Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 28.35% per year if the stock closes at or above its downside threshold level, 80% of its initial share price, on the observation date that period.
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 60% downside threshold level, the payout at maturity will be par.
Otherwise, investors will receive 16.84636 shares of the stock or the cash equivalent.
Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent income securities
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| Underlying stock: | Royal Caribbean Cruises Ltd.
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| Amount: | $10 million
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| Maturity: | Feb. 24, 2022
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| Coupon: | 28.35% per year, payable monthly if stock closes at or above coupon threshold level on observation date that period
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above downside threshold level, par; otherwise, 16.84636 shares of the stock or the cash equivalent
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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: | $74.20
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| Downside threshold: | $59.36, 80% of initial share price
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 23
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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: | 06741WQZ6
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