By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – Barclays Bank plc priced $2.19 million of contingent income autocallable securities due Aug 3, 2020 linked to the least performing of the Euro Stoxx 50 index and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 10.15% if each index closes at or above its 80% coupon barrier on each trading day for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly determination date other than the final date.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50 and Euro Stoxx Banks
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| Amount: | $2,185,000
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| Maturity: | Aug. 3, 2020
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| Coupon: | 10.15% per year, payable quarterly if each index closes at or above 80% coupon threshold on each trading day during that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 80% downside threshold, par; otherwise, full exposure to decline of worst performing index
|
| Call option: | At par if each index closes at or above its initial level on any interest payment date other than final date
|
| Initial levels: | 3,643.04 for Stoxx 50 and 143.05 for Stoxx Banks
|
| Coupon barriers: | 2,914.432 for Stoxx 50 and 114.44 for Stoxx Banks; 80% of initial levels
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| Downside thresholds: | 2,550.128 for Stoxx 50 and 100.135 for Stoxx Banks; 70% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 1
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06744CTH4
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