By William Gullotti
Buffalo, N.Y., Sept. 30 – Barclays Bank plc priced $20 million of 9.85% fixed coupon autocallable securities due Sept. 26, 2022 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if the ETF closes at or above its initial share price on any monthly determination date other than the final.
If the ETF finishes at or above the 90% downside threshold level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the initial share price or the cash equivalent at the issuer’s option.
Barclays is the agent. Morgan Stanley Wealth Management is the selected dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Fixed coupon autocallable securities
|
| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $20 million
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| Maturity: | Sept. 26, 2022
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| Coupon: | 9.85%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the ETF’s final share price is less than the downside threshold, in which case investors will receive 2.55993 shares per security or the cash equivalent at the issuer’s option
|
| Call: | Automatically at par plus coupon if the ETF closes at or above its initial share price on any monthly determination date other than the final
|
| Initial share price: | $434.04
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| Downside threshold: | $390.636; 90% of initial level
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| Strike date: | Sept. 20
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 24
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| Underwriter: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 0.2%
|
| Cusip: | 06741WF47
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