By Wendy Van Sickle
Columbus, Ohio, Sept. 24 – Barclays Bank plc priced $17.43 million of contingent income autocallable securities due Dec. 23, 2021 linked to the least performing of the common stocks of Alphabet Inc. and AT&T Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9.3% per year if each stock closes at or above its downside threshold, 65% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any stock finishes below its downside threshold level, in which case investors will lose 1% for every 1% that the least-performing stock declines from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Alphabet Inc. and AT&T Inc.
|
| Amount: | $17,429,300
|
| Maturity: | Dec. 23, 2021
|
| Coupon: | 9.3% per year, payable quarterly if each stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below downside threshold level, in which case 1% loss for every 1% that least-performing stock declines from initial level
|
| Call: | Automatically at par if each stock closes at or above initial level on any quarterly determination date
|
| Initial levels: | $1,229.84 for Alphabet and $37.91 for AT&T
|
| Downside thresholds: | $799.396 for Alphabet and $24.642 for AT&T, or 65% of initial levels
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 25
|
| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06747C124
|
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