New York, May 12 – Barclays Bank plc priced $12.62 million of contingent income autocallable securities due May 1, 2025 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a contingent coupon of 17.3%, paid quarterly, if the underlying stock closes at or above its 50% downside threshold on the related observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly review date.
At maturity, the payout will be par unless the stock finishes below its 50% downside threshold level, in which case investors will be fully exposed to the decline of the stock.
Barclays is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Tesla, Inc. (Ticker: TSLA)
|
| Amount: | $12,615,000
|
| Maturity: | May 1, 2025
|
| Coupon: | 17.3%, paid quarterly, if the underlying stock closes at or above its 50% downside threshold on the related observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the stock
|
| Call: | Automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly review date
|
| Initial level: | $164.31
|
| Downside threshold: | $82.155, 50% of initial level
|
| Pricing date: | April 28
|
| Settlement date: | May 3
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
|
|
| Cusip: | 06741W4C1
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
