By Devika Patel
Knoxville, Tenn., April 7 – Barclays Bank plc priced $3.15 million of autocallable securities due April 2, 2020 linked to the American Depositary Shares of Petroleo Brasileiro SA, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a redemption premium equivalent to an annual rate of 13.2% if the ADS close at or above 90% of the initial share price on any quarterly determination date other than the final determination date beginning July 6, 2017.
The payout at maturity will be par plus 39.6% unless the ADS finish below the 90% downside threshold level, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable securities
|
| Underlying ADS: | Petroleo Brasileiro SA (Symbol: PBR)
|
| Amount: | $3.15 million
|
| Maturity: | April 2, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus 39.6% unless ADS finish below the 90% downside threshold level, in which case 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus a premium of 13.2% annualized if ADS close at or above 90% of the initial share price on any quarterly determination date other than final determination date beginning July 6, 2017
|
| Initial share price: | $9.58
|
| Downside threshold: | $8.622, 90% of initial share price
|
| Pricing date: | March 30
|
| Settlement date: | April 4
|
| Agent: | Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06746J609
|
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