By Wendy Van Sickle
Columbus, Ohio, June 14 – Barclays Bank plc priced $3.15 million of 0% autocallable securities due June 12, 2020 linked to the common stock of United States Steel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 12.3% if the shares close at or above the redemption threshold, 85% of the initial level, on any quarterly determination date other than the final determination date.
If the final share price is greater than or equal to the redemption threshold, the payout at maturity will be par plus 36.9%. Otherwise, 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
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| Issue: | Autocallable securities
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| Underlying stock: | United States Steel Corp.
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| Amount: | $3.15 million
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| Maturity: | June 12, 2020
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| Coupon: | 0%
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| Call: | At par plus 12.3% per year if shares close above 85% redemption threshold on any quarter observation date other than final date
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| Price: | Par of $10.00
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| Payout at maturity: | If final share price is greater than or equal to redemption threshold, par plus 36.9%; otherwise, 1% loss for every 1% that final share price is less than initial share price
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| Initial price: | $21.82
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| Redemption threshold: | $18.547, 85% of initial price
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| Pricing date: | June 9
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| Settlement date: | June 14
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 06746K622
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