By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – Barclays Bank plc priced $4.64 million of contingent income autocallable securities due Oct. 7, 2022 linked to the least performing of the common stocks of Citigroup Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 11.4% 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 either 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
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| Underlying stocks: | Citigroup Inc. and JPMorgan Chase & Co.
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| Amount: | $4,642,840
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| Maturity: | Oct. 7, 2022
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| Coupon: | 11.4% 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 either 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
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| Initial levels: | $68.18 for Citigroup and $114.62 for JPMorgan Chase
|
| Downside thresholds: | $44.317 for Citigroup and $74.503 for JPMorgan Chase, or 65% of initial levels
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| Pricing date: | Oct. 4
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| Settlement date: | Oct. 9
|
| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06747D866
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