New Issue: Barclays sells $850,000 phoenix autocallable notes on Tesla

By Kiku Steinfeld

Chicago, Jan. 26 – Barclays Bank plc priced $850,000 of phoenix autocallable notes due Jan. 25, 2024 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 25.25% if the stock closes at or above its 55% coupon barrier on a related observation date.

The notes will be called at par of $10,000 plus the contingent coupon if the stock closes at or above its initial level on any quarterly call observation date after one year.

The payout at maturity will be par unless the stock finishes below 55% of its initial value in which case investors will receive a number of Tesla shares equal to $10,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stock:	Tesla, Inc.
Amount:	$850,000
Maturity:	Jan. 25, 2024
Coupon:	25.25% annualized, payable monthly if stock closes at or above coupon barrier on related observation date
Price:	Par of $10,000
Payout at maturity:	Par unless stock finishes below final barrier, in which case 11.75848 Tesla shares or cash equivalent
Call:	At par plus contingent coupon if stock closes at or above initial level on any quarterly call observation date after one year
Initial level:	$850.45
Coupon barrier:	$467.75, 55% of initial level
Final barrier:	$467.75, 55% of initial level
Pricing date:	Jan. 20
Settlement date:	Jan. 25
Agent:	Barclays
Fees:	2%
Cusip:	06741WPD6

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