By Susanna Moon
Chicago, Dec. 23 – Barclays Bank plc priced $3.74 million of contingent income autocallable securities due Dec. 21, 2018 linked to Cisco Systems, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly payment at an annual rate of 8.25% if Cisco shares close at or above the barrier level, 80% of the initial share price, on a determination date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if Cisco shares close at or above the initial share price on any determination date other than the final determination date.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below the 80% barrier level, in which case investors will be fully exposed to any losses.
Barclays is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Cisco Systems, Inc. (Symbol: CSCO)
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| Amount: | $3,744,040
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| Maturity: | Dec. 21, 2018
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| Coupon: | 8.25% annualized for each quarter if Cisco shares close at or above barrier level on determination date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus the final contingent coupon unless the stock finishes below the barrier level, in which case full exposure to any losses
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| Call: | At par plus contingent coupon if Cisco shares close at or above initial share price on any determination date other than final determination date
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| Initial level: | $26.27
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| Barrier level: | $21.016, 80% of initial share price
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Agent: | Barclays
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| Fees: | 2%
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| Cusip: | 06743T535
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