By Kiku Steinfeld
Chicago, Dec. 17 – Barclays Bank plc priced $4.82 million of contingent income autocallable securities due Nov. 28, 2022 linked to the class B common stock of Nike, Inc. and the common stock of Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent interest payment at the rate of 9.05% per year if each stock closes at or above its downside threshold level, 65% of the initial share price, on the observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if each stock closes at or above its initial share price on any quarterly determination date other than the final one.
The payout at maturity will be par plus the coupon unless the least performing stock finishes below its downside threshold level, in which case investors will be fully exposed to that stock’s decline.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Nike, Inc. and Walmart Inc.
|
| Amount: | $4,824,000
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| Maturity: | Nov. 28, 2022
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| Coupon: | 9.05% per year, payable quarterly if each stock closes at or above its downside threshold on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus coupon unless least performing stock finishes below its downside threshold, in which case full exposure to that stock’s decline
|
| Call: | At par plus coupon if each stock closes at or above its initial share price on any quarterly determination date other than final one
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| Initial share prices: | $93.34 for Nike, $119.36 for Walmart
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| Coupon barriers/downside thresholds: | $60.671 for Nike, $77.584 for Walmart, 65% of initial share prices
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 27
|
| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06747E302
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