By Kiku Steinfeld
Chicago, Oct. 25 – Barclays Bank plc priced $1 million of 9.1% autocallable fixed-coupon notes due Oct. 17, 2024 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par of $10,000 if the stock closes at or above its initial level on any quarterly call valuation date after one year.
If the notes are not called, the payout at maturity will be par unless the stock finishes below 65% of its initial level, in which cases investors will receive 12.41126 Tesla shares or, at the issuer’s option, the cash value of those shares.
Barclay is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed-coupon notes
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| Underlying stock: | Tesla, Inc.
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| Amount: | $1 million
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| Maturity: | Oct. 17, 2024
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| Coupon: | 9.1%, payable monthly
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| Price: | Par of $10,000
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| Call: | At par if stock closes at or above initial level on any quarterly call valuation date after one year
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| Payout at maturity: | Par unless stock finishes below barrier level, in which case 12.41126 Tesla shares or the cash value at issuer’s option
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| Initial level: | $805.72
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| Barrier level: | $483.43; 65% of initial level
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| Pricing date: | Oct. 12
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| Settlement date: | Oct. 15
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| Agent: | Barclays
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| Fees: | 2%
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| Cusip: | 06741WH78
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