By Wendy Van Sickle
Columbus, Ohio, July 27 – Barclays Bank plc priced $10 million of 13.3% fixed-coupon autocallable notes due July 27, 2021 linked to the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the fund closes at or above its initial level on any monthly determination date.
The payout at maturity will be par unless the fund finishes below its 60% downside threshold level, in which case investors will receive a number of shares of the underlier equal to the exchange ratio, which is the stated principal amount divided by the downside threshold level, or the cash value of those shares, at the issuer’s option.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
Issuer: | Barclays Bank plc
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Issue: | Fixed-coupon autocallable notes
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Underlying fund: | VanEck Vectors Oil Services ETF
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Amount: | $10 million
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Maturity: | July 27, 2021
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Coupon: | 13.3%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless the fund finishes below its downside threshold level, in which case investors will receive a number of shares of the underlier equal to the exchange ratio, which is the stated principal amount divided by the downside threshold level, or the cash value of those shares, at the issuer’s option
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Call: | At par if fund closes at or above its initial level on any monthly determination date
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Initial value: | $130.93
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Downside threshold: | $78.558, 60% of initial level
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Exchange ratio: | 12.72945
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Pricing date: | July 22
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Settlement date: | July 27
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Agent: | Barclays
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Selected dealer: | Morgan Stanley Wealth Management
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Fees: | 0.2%
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Cusip: | 06741WJF8
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