New York, Sept. 25 – Barclays Bank plc priced $10 million of contingent income autocallable securities due Sept. 24, 2024 linked to the SPDR S&P Biotechnology ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.9796%, payable monthly if the shares close at or above their initial level on the related observation date, plus any previously unpaid coupon.
The securities will be called automatically starting Oct. 19 at par if the price of the underlying ETF is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the ETF declines by more than its 13% buffer in which case investors will lose 114.943% 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 Biotechnology ETF (Ticker: XBI)
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| Amount: | $10 million
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| Maturity: | Sept. 24, 2024
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| Coupon: | 14.9796%, payable monthly if shares close at or above initial level on observation date, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless ETF declines by more than its buffer in which case investors will lose 114.943% of the decline beyond the buffer
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| Call: | Automatically starting Oct. 19 at par if the price of the underlying ETF is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial level: | $75.95
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| Buffer: | $66.077, 87% of initial level
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| Downside leverage: | 114.943%
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| Pricing date: | Sept. 19
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| Settlement date: | Sept. 22
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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: | 06745NKL9
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