By Wendy Van Sickle
Columbus, Ohio, April 14 – Barclays Bank plc priced $9.71 million of contingent income autocallable securities due April 12, 2024 linked to the American Depository shares of Capital One Financial Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8% per year if the stock closes at or above its downside threshold level, 65% of its initial share price, on the observation date that period.
The notes will be automatically called at par of $10 if the stock closes at or above its initial share price on any quarterly observation date.
If the stock finishes at or above the 65% downside threshold level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the loss.
Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Capital One Financial Corp.
|
| Amount: | $9,708,200
|
| Maturity: | April 12, 2024
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| Coupon: | 8% per year, payable quarterly if stock closes at or above coupon threshold level on observation date that period
|
| Price: | Par of $10
|
| Payout at maturity: | If stock finishes at or above downside threshold level, par; otherwise, full exposure to loss
|
| Call: | Automatically at par if stock closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $134.17
|
| Downside threshold: | $87.211, 65% of initial share price
|
| Pricing date: | April 9
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| Settlement date: | April 14
|
| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06747R691
|
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