By William Gullotti
Buffalo, N.Y., June 17 – Barclays Bank plc priced $28.05 million of contingent income autocallable securities due June 14, 2024 linked to ConocoPhillips 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 10.25% if the underlying stock closes at or above its 70% coupon threshold on any quarterly observation date.
If underlying stock closes at or above its initial price on any of the quarterly determination dates other than the final one, the securities will be redeemed at par plus the contingent payment.
If the underlying stock finishes at or above the 70% downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
Barclays is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income auto-callable securities
|
| Underlying index: | ConocoPhillips
|
| Amount: | $28,049,130
|
| Maturity: | June 14, 2024
|
| Coupon: | 10.25% annualized, payable quarterly if the stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise full exposure to any losses
|
| Call: | At par plus contingent payment if underlying stock closes at or above initial share price on any determination date other than the final one
|
| Initial share price: | $59.97
|
| Trigger level: | $41.979; 70% of initial price
|
| Pricing date: | June 11
|
| Settlement date: | June 16
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06747T333
|
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