By Susanna Moon
Chicago, Nov. 5 – Barclays Bank plc priced $3.07 million of contingent income autocallable securities due Nov. 7, 2016 linked to the iShares Nasdaq Biotechnology exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at an annual rate of 13% if the fund closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial level on any determination date other than the final determination date.
The payout at maturity will be par unless the fund finishes below its 75% barrier level, in which case investors will be fully exposed to any losses.
Barclays is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying fund: | iShares Nasdaq Biotechnology ETF
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| Amount: | $3,071,010
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| Maturity: | Nov. 7, 2016
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| Coupon: | 13% annualized, payable quarterly, if the fund closes at or above its barrier level on the observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless the fund finishes below barrier level, in which case full exposure to any losses
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| Call: | At par if the fund closes at or above initial level on any quarterly determination date other than final date
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| Initial level: | $325.46
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| Barrier level: | 75% of initial level
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.25%
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| Cusip: | 06743Q176
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