Chicago, Nov. 18 – Barclays Bank plc priced $800,000 of autocallable contingent coupon notes due March 12, 2025 linked to the worst performing of the stocks of Tesla, Inc. and Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 12.55% if each stock closes at or above its coupon barrier level, 50% of its initial level, on the related observation date, in which case any previously unpaid coupons will also be paid.
The notes will be automatically called at par plus coupon if each stock closes at or above 80% of its initial level on any monthly call observation date beginning in June 2022.
If the notes are not called and each stock finishes at or above its final barrier price, 50% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the laggard stock’s decline from its initial level.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | Tesla, Inc. and Ford Motor Co.
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| Amount: | $800,000
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| Maturity: | March 12, 2025
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| Contingent coupon: | 12.55% per year, payable monthly plus any previously unpaid coupons if each stock closes at or above coupon barrier related observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above its final barrier price, par plus the final coupon; otherwise, investors will be exposed to the laggard stock’s decline from its initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above 80% of its initial level on any monthly call observation date beginning in June 2022
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| Initial levels: | $838.29 for Tesla, $16.85 for Ford
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| Coupon barriers: | $419.15 for Tesla, $8.43 for Ford; 50% of initial levels
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| Final barriers: | $419.15 for Tesla, $8.43 for Ford; 50% of initial levels
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| Pricing date: | March 7
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| Settlement date: | March 10
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| Agent: | Barclays
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| Fees: | 3.6%
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| Cusip: | 06748XKQ3
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