By Marisa Wong
Madison, Wis., July 21 – Barclays Bank plc priced $4.65 million of contingent income autocallable securities due July 20, 2018 linked to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.25% if the shares close at or above the 80% downside threshold level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any determination date other than the final determination date.
The payout at maturity will be par plus the final coupon unless the shares finish below the 80% downside threshold level, in which case investors will receive a number of Facebook shares equal to $10 divided by the initial price or, at the issuer’s option, the cash equivalent.
Barclays is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income auto-callable securities
|
| Underlying stock: | Facebook, Inc. (Symbol: FB)
|
| Amount: | $4,648,900
|
| Maturity: | July 20, 2018
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| Coupon: | 8.25% annualized for each quarter that stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if stock finishes at or above downside threshold level; otherwise, Facebook shares equal to $10 divided by the initial price
|
| Call: | At par plus contingent payment if stock closes at or above initial share price on any determination date other than the final determination date
|
| Initial price: | $94.97
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| Downside threshold: | $75.976, 80% of initial price
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| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Agent: | Barclays with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 2.5%
|
| Cusip: | 06743N363
|
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