By Wendy Van Sickle
Columbus, Ohio, Aug. 28 – Barclays Bank plc priced $4.63 million of contingent income autocallable securities due Aug. 27, 2021 linked to the common shares of Celgene Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9% if the stock closes at or above the 75% coupon barrier on the observation date for that quarter.
After six months, he notes will be called at par if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the underlying stock finishes below its 75% trigger level, in which case investors will be fully exposed to any losses.
Barclays is the underwriter with Morgan Stanley Wealth Management as the dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Celgene Corp.
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| Amount: | $4,629,800
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| Maturity: | Aug. 27, 2021
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| Coupon: | 9%, payable quarterly if stock closes at or above 75% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger, in which case 1% loss per 1% decline
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| Call: | At par if stock closes at or above initial level on any determination date other than the final date after six months
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| Initial level: | $89.93
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| Trigger levels: | $67.448, 75% of initial levels
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 29
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| Agent: | Barclays
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| Fees: | 2.5%
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| Cusip: | 06746U844
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