New York, June 15 – Barclays Bank plc priced $16.96 million of contingent income callable securities due June 12, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.1% if the index closes at or above 70% of its initial level on the quarterly observation date.
The securities may be called starting Sept. 11 at par and on any subsequent quarterly review date.
If the stock gains or ends above its downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level.
Morgan Stanley Wealth Management is the agent.
Issuer: | Barclays Bank plc
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Issue: | Contingent income callable securities
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Underlying indexes: | S&P 500 index
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Amount: | $16,958,000
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Maturity: | June 12, 2025
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Coupon: | 8.1%, payable quarterly if index closes at or above downside threshold on observation date
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Price: | Par
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Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level
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Call: | Starting Sept. 11 at par and on any subsequent quarterly review date
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Initial level: | 4,298.86
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Downside threshold: | 3,009.202, 70% of initial level
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Pricing date: | June 9
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Settlement date: | June 14
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Agent: | Morgan Stanley Wealth Management
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Fees: | 1.5%
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Cusip: | 06745MH92
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