New Issue: Barclays prices $500,000 12.35% autocallables linked to Tesla

By Taylor Fox

New York, March 16 – Barclays Bank plc priced $500,000 of 12.35% autocallable fixed-coupon notes due March 7, 2024 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be automatically called at par of $25,000 if the stock closes at or above its initial level on any quarterly call date after one year.

If the notes are not called and the stock finishes at or above 50% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the stock declines from its initial level, payable either in shares or cash at the issuer’s option.

Barclay is the agent.

Issuer:	Barclays Bank plc
Issue:	Autocallable fixed-coupon notes
Underlying stock:	Tesla, Inc.
Amount:	$500,000
Maturity:	March 7, 2024
Coupon:	12.35% payable monthly
Price:	Par of $25,000
Call:	At par if stock closes at or above initial level on any quarterly call date after one year
Payout at maturity:	Par unless stock finishes below barrier level, in which case 1% loss for each 1% that stock declines from initial level, payable either in shares or cash at issuer’s option
Initial level:	$621.44
Barrier level:	$310.72, 50% of initial level
Pricing date:	March 4
Settlement date:	March 9
Agent:	Barclays
Fees:	2%
Cusip:	06741WRR3

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