By Wendy Van Sickle
Columbus, Ohio, Nov. 1 – Barclays Bank plc priced $1.58 million of contingent income autocallable securities due Oct. 29, 2021 linked to Deere & Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if the underlying stock closes at or above the 80% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon 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 stock finishes below its 80% downside threshold, in which case investors will lose 1% for each 1% decline.
Barclays Securities (USA) LLC is the underwriter with Morgan Stanley Wealth Management as the dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Deere & Co.
|
| Amount: | $1,583,900
|
| Maturity: | Oct. 29, 2021
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| Coupon: | 11% annualized, payable quarterly if stock closes at or above 80% coupon barrier on each trading day for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par if the stock closes at or above its initial level on any determination date other than the final date
|
| Initial level: | $133.00
|
| Downside threshold: | $106.40, 80% of initial level
|
| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
|
| Agent: | Barclays
|
| Distributor: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06746V503
|
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