By Wendy Van Sickle
Columbus, Ohio, June 28 – Barclays Bank plc priced $1 million of 10.95% autocallable fixed-coupon notes due May 30, 2024 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if the stock closes at or above its initial level on any monthly call valuation date after one year.
If the notes are not called, the payout at maturity will be par unless the stock finishes below 65% of its initial level, in which cases investors will receive 16.48968 Tesla shares or the cash value of those shares.
Barclay is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed-coupon notes
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| Underlying stock: | Tesla, Inc.
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| Amount: | $1 million
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| Maturity: | May 30, 2024
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| Coupon: | 10.95%, payable monthly
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| Price: | Par
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| Call: | At par if stock closes at or above initial level on any monthly call valuation date after one year
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| Payout at maturity: | Par unless stock finishes below barrier level, in which case 16.48968 Tesla shares or the cash value
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| Initial level: | $606.44
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| Barrier level: | $394.19; 65% of initial level
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| Pricing date: | May 24
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| Settlement date: | May 27
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| Agent: | Barclays
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| Fees: | 2%
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| Cusip: | 06741WUY4
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