By Wendy Van Sickle
Columbus, Ohio, Jan. 17 – Barclays Bank plc priced $8.25 million of contingent income autocallable securities due Jan. 18, 2024 linked to the KraneShares CSI China Internet ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.5%, paid quarterly, if the ETF closes at or above its 60% coupon barrier on the observation date for that period.
The securities will be called automatically at par if the ETF’s closing level is greater than or equal to its initial level on any quarterly valuation date after six months.
At maturity, the payout will be par unless the ETF finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the ETF.
Barclays is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying ETF: | KraneShares CSI China Internet ETF
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| Amount: | $8,247,800
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| Maturity: | Jan. 18, 2024
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| Coupon: | 16.5% per year, paid quarterly if the ETF closes at or above its 60% coupon barrier on observation date for period
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| Price: | Par
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| Payout at maturity: | Par unless the ETF finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the ETF
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| Call: | Automatically at par if the ETF’s closing level is greater than or equal to its initial level on any quarterly valuation date after six months
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| Initial level: | $34.86
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| Downside threshold: | $20.916, 60% of initial level
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| Coupon barrier: | $20.916, 60% of initial level
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 17
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.75%
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| Cusip: | 06748D725
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