By Sarah Lizee
Olympia, Wash., Oct. 10 – Barclays Bank plc priced $14.67 million of autocallable contingent income securities due Oct. 8, 2021 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.2% if the stock closes at or above the 70% coupon barrier on the observation date for that quarter.
The 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 70% 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
|
| Issue: | Autocallable contingent income securities
|
| Underlying stock: | Amazon.com, Inc. (Symbol: AMZN)
|
| Amount: | $14,672,930
|
| Maturity: | Oct. 8, 2021
|
| Coupon: | 9.2%, payable quarterly if stock closes at or above 70% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below 70% trigger, in which case 1% loss per 1% decline
|
| Call: | At par if stock closes at or above initial level on any determination date other than the final date
|
| Initial level: | $1,889.65
|
| Trigger level: | $1,322.755, 70% of initial level
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 11
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06746U299
|
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