By Wendy Van Sickle
Columbus, Ohio, Oct. 21 – Barclays Bank plc priced $5 million of 8.4% fixed-coupon autocallable securities due Oct. 21, 2021 linked to the shares of SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above the initial share price on any monthly determination date other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, 85% of the initial price, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the stock equal to $1,000 divided by the downside threshold level or, at the issuer’s option, the cash value of those shares.
Barclays is the agent, with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Fixed-coupon autocallable securities
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| Underlying shares: | SPDR S&P 500 ETF Trust
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| Amount: | $5 million
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| Maturity: | Oct. 21, 2021
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| Coupon: | 8.4% per year, payable monthly
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| Price: | Par of $1,000
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| Payout at maturity: | If final share price is greater than or equal to downside threshold, par; otherwise, 3.38553 shares per note or, at issuer’s option, cash value of those shares
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| Call: | At par if shares close at or above initial share price on any monthly determination date other than final date
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| Initial share price: | $347.50
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| Downside threshold: | $295.375, 85% of initial share price
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 21
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management handling distribution
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| Fees: | 0.35%
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| Cusip: | 06741WLM0
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