By Wendy Van Sickle
Columbus, Ohio, July 7 – Barclays Bank plc priced $10 million of contingent income autocallable securities due July 9, 2024 linked to the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a contingent coupon of 11.4996%, paid monthly, if the ETF closes at or above its 85% downside threshold level on the relevant observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any monthly review date.
At maturity, the payout will be par unless the ETF finishes below its downside threshold level, in which case investors will lose 1.17647% for each 1% decline of the ETF beyond 15%.
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 ETF: | Invesco QQQ Trust, Series 1 (Ticker: QQQ)
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| Amount: | $10 million
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| Maturity: | July 9, 2024
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| Coupon: | 11.4996%, paid monthly, if the ETF closes at or above its 85% downside threshold level on the relevant observation date, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par unless the ETF finishes below its downside threshold level, in which case investors will lose 1.17647% for each 1% decline beyond 15%
|
| Call: | Automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any monthly review date
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| Initial level: | $369.42
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| Downside threshold: | $314.007, 85% of initial level
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| Pricing date: | July 3
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| Settlement date: | July 7
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.1%
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| Cusip: | 06745MQ68
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