By Susanna Moon
Chicago, June 9 – Barclays Bank plc priced $1.09 million of contingent income callable securities due May 29, 2020 linked to Chipotle Mexican Grill, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8% if the stock closes at or above its 80% downside threshold on the observation date for that quarter.
The notes are callable at par on any quarterly determination date other than the final date.
If the stock finishes at or above its 80% downside threshold, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to any decline.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income callable securities
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| Underlying stock: | Chipotle Mexican Grill, Inc. (Symbol: CMG)
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| Amount: | $1,087,000
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| Maturity: | May 29, 2020
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| Coupon: | 8% per year, payable quarterly if stock closes at or above its downside threshold on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, full exposure to decline
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| Call option: | At par on any quarterly determination date other than final date
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| Initial level: | $480.15
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| Downside threshold: | $384.12, 80% of initial level
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 06746K796
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