By Wendy Van Sickle
Columbus, Ohio, June 22 – Barclays Bank plc priced $10 million of 20% fixed-coupon autocallable notes due June 23, 2021 linked to the common shares of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if the stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below its 50% downside threshold level, in which case investors will receive a number of shares of the underlier equal to the exchange ratio, which is the stated principal amount divided by the downside threshold level, or the cash value of those shares, at the issuer’s option.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
Issuer: | Barclays Bank plc
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Issue: | Fixed-coupon autocallable notes
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Underlying stock: | JPMorgan Chase & Co.
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Amount: | $10 million
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Maturity: | June 23, 2021
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Coupon: | 20%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will receive a number of shares of the underlier equal to the exchange ratio, which is the stated principal amount divided by the downside threshold level, or the cash value of those shares, at the issuer’s option
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Call: | At par if stock closes at or above its initial level on any quarterly determination date
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Initial value: | $99.48
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Downside threshold: | $79.584, 80% of initial level
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Exchange ratio: | 12.56534
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Pricing date: | June 18
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Settlement date: | June 23
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Agent: | Barclays
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Selected dealer: | Morgan Stanley Wealth Management
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Fees: | 0.2%
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Cusip: | 06741WHQ6
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