New Issue: Barclays prices $8.26 million contingent income autocallables linked to Alphabet

By Angela McDaniels

Tacoma, Wash., April 30 – Barclays Bank plc priced $8.26 million of contingent income autocallable securities with step-up redemption threshold level feature due April 29, 2022 linked to the class A common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If Alphabet shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 8.5%.

The notes will be called at par of $10 plus the contingent coupon if Alphabet shares close at or above the redemption threshold price on any quarterly determination date other than the final determination date. The redemption threshold price is 105% of the initial share price for determination dates one through four, 110% of the initial share price for determination dates five through eight and 115% of the initial share price for determination dates nine through 11.

If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. 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
Issue:	Contingent income autocallable securities with step-up redemption threshold price feature
Underlying stock:	Class A common stock of Alphabet Inc. (Symbol: GOOGL)
Amount:	$8,260,930
Maturity:	April 29, 2022
Coupon:	8.5% per year, payable quarterly if Alphabet shares close at or above downside threshold level on determination date for that quarter
Price:	Par of $10.00
Payout at maturity:	If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
Call:	At par plus contingent coupon if Alphabet shares close at or above redemption threshold price on any quarterly determination date other than final determination date
Initial share price:	$1,277.42
Downside threshold:	$1,021.936, 80% of initial share price
Redemption thresholds:	$1,341.29, or 105% of initial share price, for redemption dates one through four; $1,405.16, or 110% of initial share price, for redemption dates five through eight; and $1,469.03, or 115% of initial share price, for redemption dates nine through 11
Pricing date:	April 26
Settlement date:	May 1
Agent:	Barclays
Selected dealer:	Morgan Stanley Wealth Management
Fees:	2.5%
Cusip:	06747A565

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