By Wendy Van Sickle
Columbus, Ohio, July 3 – Barclays Bank plc priced $15 million of contingent income autocallable securities due July 5, 2024 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 24.06% if the underlying stock closes at or above its 70% downside threshold on the related monthly observation date, plus any previously unpaid coupon.
The securities will be called automatically at par if the price of the underlying stock is greater than or equal to its initial price on any monthly review date.
At maturity the payout will be par unless the stock closes below its 70% downside threshold level in which case investors will lose 1.42857% for each 1% decline of the stock beyond 30%.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Tesla, Inc. (Ticker: TSLA)
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| Amount: | $15 million
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| Maturity: | July 5, 2024
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| Coupon: | 24.06% if the underlying stock closes at or above its 70% downside threshold on the related monthly observation date, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case 1.42857% loss for each 1% decline of the stock beyond 30%
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| Call: | Automatically at par if the price of the underlying stock is greater than or equal to its initial price on any monthly review date
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| Initial level: | $250.21
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| Downside threshold: | $175.147, 70% of initial level
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.1%
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| Cusip: | 06745MMJ4
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