New York, July 28 – Barclays Bank plc priced $10 million of contingent income autocallable securities due July 29, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.44% if each underlying index closes at or above its downside threshold on the related quarterly observation date, plus any previously unpaid coupon.
The securities will be called automatically starting Oct. 23 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the stock declines by more than its 10% buffer in which case investors will lose 111.111% of the decline beyond the buffer.
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: | SPDR S&P 500 ETF Trust (Ticker: SPY)
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| Amount: | $10 million
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| Maturity: | July 29, 2024
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| Coupon: | 10.44% if each underlying index closes at or above its downside threshold on the related quarterly observation date, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless the stock declines by more than its buffer in which case investors will lose 111.111% of the decline beyond the buffer
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| Call: | Automatically starting Oct. 23 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial level: | $452.18
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| Buffer: | $406.962, 90% of initial level
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| Downside leverage: | 111.111%
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.05%
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| Cusip: | 06745MUQ9
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