New Issue: Barclays prices $625,000 dual directional autocallable notes on Tesla

By William Gullotti

Buffalo, N.Y., Feb. 10 – Barclays Bank plc priced $625,000 dual directional autocallable notes due Sept. 5, 2024 linked to the stock performance of Tesla, Inc., according to a 424B2 filed with the Securities and Exchange Commission.

The notes will be called at par plus a premium of 22% per year if the stock closes at or above its initial level on any annual call review date.

If the notes are not called and the stock finishes flat or gains, the payout at maturity will be par plus the return.

If the stock declines but finishes at or above the 60% barrier level, the payout at maturity will be par plus the absolute value of the stock’s return. Otherwise, investors will receive a number of shares equal to $1,000 divided by the initial level or, at the issuer’s option, the cash equivalent.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Dual directional autocallable notes
Underlying stock:	Tesla, Inc.
Amount:	$6,967,000
Maturity:	Sept. 5, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the stock finishes flat or gains, par plus the return; if the stock falls by up to 40%, par plus the absolute value of the stock’s return; otherwise, receive 1.3592 shares or, at the issuer’s option, the cash equivalent
Call:	Par plus premium of 22% per year if the stock closes above initial level on any annual call review date
Initial level:	$735.72
Barrier level:	$441.43; 60.00% of initial level
Pricing date:	Aug. 31, 2021
Settlement date:	Sept. 3, 2021
Agent:	Barclays
Fees:	1%
Cusip:	06741WC57

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