By William Gullotti
Buffalo, N.Y., June 28 – Barclays Bank plc priced $10 million of contingent income autocallable securities due June 28, 2022 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.1% if the underlying stock closes at or above its 80% coupon threshold on any monthly observation date. Any previously unpaid coupons will also be paid.
If underlying stock closes at or above its initial price on any of the monthly determination dates, the securities will be redeemed at par plus the contingent payment.
If the underlying stock finishes at or above the 80% downside threshold level, the payout at maturity will be par plus the contingent monthly payment.
Otherwise, the payout will be 3.56589 shares per security or, at the issuer’s option, the cash value of those shares.
Barclays is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income auto-callable securities
|
| Underlying index: | Amazon.com, Inc.
|
| Amount: | $10,000,000
|
| Maturity: | June 28, 2022
|
| Coupon: | 6.1% annualized, payable monthly if the stock closes at or above coupon barrier on the corresponding coupon date; previously unpaid coupons will also be paid
|
| Price: | Par of $10,000
|
| Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise, 3.56589 shares per security or, at issuer’s option, cash value of those shares
|
| Call: | At par plus contingent payment if underlying stock closes at or above initial share price on any determination date
|
| Initial share price: | $3,505.44
|
| Trigger level: | $2,804.352; 80% of initial price
|
| Pricing date: | June 23
|
| Settlement date: | June 28
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 0.2%
|
| Cusip: | 06747W823
|
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