By Wendy Van Sickle
Columbus, Ohio, May 10 – Barclays Bank plc priced $10 million of contingent income autocallable securities due May 9, 2022 linked to the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the shares close at or above the downside threshold level, 75% of the initial level, on any monthly observation date, the notes will pay a coupon at an annualized rate of 11.5%, plus any previously unpaid coupon.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any monthly determination date other than the final determination date.
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 receive 6.9633 VanEck Vectors Oil Service shares.
Barclays is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying EtF: | VanEck Vectors Oil Services ETF
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| Amount: | $10 million
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| Maturity: | May 9, 2022
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| Coupon: | 11.5% per year, payable monthly if shares close at or above downside threshold level on determination date for that month, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 6.9633 VanEck Vectors Oil Service shares
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| Call: | At par plus contingent coupon if shares close at or above initial share price on any monthly determination date
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| Initial share price: | $191.48
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| Downside threshold: | $143.61; 75% of initial share price
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| Pricing date: | May 4
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| Settlement date: | May 7
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.2%
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| Cusip: | 06741WTX8
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