Barclays plans to price phoenix autocallable notes on Tesla

By Emma Trincal

New York, April 6 – Barclays Bank plc plans to price 0% phoenix autocallable notes due Oct. 19, 2023 linked to the common stock of Tesla, Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 20% if the stock closes at or above its 60% 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 the call value on any call valuation date after three months.

The payout at maturity will be par unless the stock finishes below 50% of its initial value in which case investors will be fully exposed to the decline.

Barclays is the agent.

The notes will price on April 14 and settle on April 19.

The Cusip number is 06741WSM3.

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