New Issue: Barclays sells $1.4 million phoenix autocallable notes on Tesla

By Taylor Fox

New York, March 31 – Barclays Bank plc priced $1.4 million of phoenix autocallable notes due March 23, 2023 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 23% if the stock closes at or above its 50% coupon barrier on the related observation date.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial share price on any quarterly call observation date.

The payout at maturity will be par unless the stock finishes below 50% of its initial share price, in which case investors will be exposed to the stocks’ decline from its initial share price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stock:	Tesla, Inc.
Amount:	$1,404,000
Maturity:	March 23, 2023
Coupon:	23% annualized, payable monthly if stock closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	Par unless stock finishes below final barrier, in which case exposure to stock’s decline
Call:	At par plus contingent coupon if stock closes at or above initial share price on any quarterly call observation date
Initial share price:	$654.87
Coupon barrier level:	$327.44, 50% of initial level
Final barrier level:	$327.44, 50% of initial level
Pricing date:	March 19
Settlement date:	March 24
Agent:	Barclays
Fees:	2.5%
Cusip:	06748EEL3

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