By Wendy Van Sickle
Columbus, Ohio, Jan. 20 – Barclays Bank plc priced $3.86 million of 0% contingent income autocallable securities due Jan. 18, 2019 linked to the class C capital stock of Alphabet Inc., according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.75% if the stock closes at or above the coupon barrier level, 80% of the initial share price, on a determination date that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial share price on any determination date other than the final date.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below the 80% trigger level, in which case investors will be fully exposed to any losses.
Barclays is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Alphabet Inc. (Symbol: GOOG)
|
| Amount: | $3,862,650
|
| Maturity: | Jan.18, 2019
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| Coupon: | 9.75%, payable quarterly if stock closes at or above trigger price on review date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if Alphabet shares finish at or above trigger price; otherwise, full exposure to loss
|
| Call: | Automatically at par plus contingent coupon if Alphabet shares close at or above initial price on a quarterly determination date
|
| Initial share price: | $694.45
|
| Trigger price: | $555.56, 80% of initial price
|
| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
|
| Agent: | Barclays
|
| Distributor: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06743T238
|
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