By Angela McDaniels
Tacoma, Wash., May 9 – Barclays Bank plc priced $15 million of 0% step down trigger autocallable notes due May 11, 2021 linked to the least performing of the common stocks of Walt Disney Co., Morgan Stanley and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus 12.6% per year if each stock closes at or above its initial share price on May 11, 2020 or at or above its downside threshold, 60% of its initial share price, on May 6, 2021.
If the notes are not subject to an automatic call, then the final share price of at least one stock will be less than its downside threshold, and investors will be exposed to the decline of the least-performing stock from its initial share price.
UBS Financial Services Inc. and Barclays are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Step down trigger autocallable notes
|
| Underlying stock: | Walt Disney Co. (Symbol: DIS), Morgan Stanley (Symbol: MS) and Walmart Inc. (Symbol: WMT)
|
| Amount: | $15 million
|
| Maturity: | May 11, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Full exposure to decline of least-performing stock from initial share price
|
| Call: | Automatically at par plus 12.6% per year if each stock closes at or above initial share price on May 11, 2020 or at or above downside threshold on May 6, 2021
|
| Initial share prices: | $135 for Disney, $47.71 for Morgan Stanley and $102.46 for Walmart
|
| Downside thresholds: | $81.00 for Disney, $28.63 for Morgan Stanley and $61.48 for Walmart, or 60% of initial share prices
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| Pricing date: | May 8
|
| Settlement date: | May 10
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| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1%
|
| Cusip: | 06747B860
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