By William Gullotti
Buffalo, N.Y., Oct. 23 – Barclays Bank plc priced $3.55 million of autocallable contingent coupon notes due Oct. 22, 2026 linked to the stock performance of Amazon.com, Inc., Apple Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 17% if each stock closes at or above its coupon barrier price, 60% of its initial price, on the related determination date.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any monthly call observation date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the 60% final barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its final barrier but the best performer finishes at or above its initial share price, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock from its initial share price.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon barrier notes
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| Underlying stocks: | Amazon.com, Inc., Apple Inc., Tesla, Inc.
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| Amount: | $3,546,000
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| Maturity: | Oct. 22, 2026
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| Coupon: | 17% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above 60% of its initial share price; if worst performer finishes below final barrier but the best performer finishes at or above initial share price, par; otherwise, full exposure to decline of least performing stock from initial share price
|
| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any monthly observation date after six months
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| Initial share prices: | $131.47 for Amazon, $177.15 for Apple, $254.85 for Tesla
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| Coupon barrier prices: | $78.88 for Amazon, $106.29 for Apple, $152.91 for Tesla; 60% of initial levels
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| Final barrier prices: | $78.88 for Amazon, $106.29 for Apple, $152.91 for Tesla; 60% of initial levels
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 20
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| Agent: | Barclays
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| Fees: | 0.75%
|
| Cusip: | 06745NSU1
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