By William Gullotti
Buffalo, N.Y., Dec. 15 – Barclays Bank plc priced $8.29 million of contingent income autocallable securities due Dec. 11, 2024 linked to MetLife, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.5% if the underlying stock closes at or above its 70% coupon threshold on the relevant observation date.
If underlying stock closes at or above its initial price on any of the quarterly determination dates, the securities will be redeemed at par plus the contingent payment.
If the underlying stock finishes at or above the 70% downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
Barclays is the agent with Morgan Stanley Wealth Management as selected dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | MetLife, Inc.
|
| Amount: | $8,285,500
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| Maturity: | Dec. 11, 2024
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| Coupon: | 9.5% annualized, payable quarterly if the stock closes at or above coupon barrier on the corresponding review date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent payment if underlying stock finishes at or above downside threshold; otherwise full exposure to any losses
|
| Call: | At par plus contingent payment if underlying stock closes at or above initial share price on any quarterly determination date
|
| Initial share price: | $59.67
|
| Coupon barrier: | $41.769; 70% of initial price
|
| Downside threshold: | $41.769; 70% of initial price
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 9
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 06748A804
|
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