New Issue: Barclays prices $2.14 million contingent income autocalls on three defense stocks

By William Gullotti

Buffalo, N.Y., Oct. 8 – Barclays Bank plc priced $2.14 million of autocallable contingent income securities due July 25, 2024 linked to the stocks of Lockheed Martin Corp., Northrop Grumman Corp. and Raytheon Technologies Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at the rate of 5.25% per year if each stock closes at or above its downside threshold level, 60% of its initial level, on the corresponding observation date.

The notes will be automatically called at par plus coupon if each stock closes at or above its initial level on any quarterly observation date after six months.

If each stock finishes at or above its downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the least performing stock declines from its initial level.

Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.

Issuer:	Barclays Bank plc
Issue:	Autocallable contingent income securities
Underlying stocks:	Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Technologies Corp.
Amount:	$2,138,000
Maturity:	July 25, 2024
Coupon:	5.25% per year, payable quarterly if each stock closes at or above downside threshold level on the corresponding observation date
Price:	Par of $10
Payout at maturity:	If each stock finishes at or above downside threshold level, par plus the final coupon; otherwise, 1% loss for every 1% that least performing stock declines from initial level
Call:	Automatically at par plus coupon if each stock closes at or above initial level on any quarterly observation date after six months
Initial stock levels:	$379.98 for Lockheed Martin, $359.97 for Northrop Grumman, $84.80 for Raytheon
Downside threshold levels:	$227.988 for Lockheed Martin, $215.982 for Northrop Grumman, $50.88 for Raytheon; 60% of initial levels
Pricing date:	July 20
Settlement date:	July 23
Agent:	Barclays
Selected dealer:	Morgan Stanley Wealth Management
Fees:	2.5%
Cusip:	06747W450

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