By Wendy Van Sickle
Columbus, Ohio, Jan. 17 – Barclays Bank plc priced $10 million of contingent income autocallable securities due Jan. 17, 2024 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.8%, paid monthly, if the ETF closes at or above its 85% coupon barrier on the observation date for that period.
The securities will be called automatically at par if the ETF’s closing level is greater than or equal to its initial level on any monthly valuation date.
At maturity, the payout will be par unless the ETF finishes below its 85% buffer level, in which case investors will lose 1.17647% for each 1% decline of the ETF beyond 15%.
Barclays is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
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| Underlying ETF: | SPDR S&P 500 ETF trust
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| Amount: | $10 million
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| Maturity: | Jan. 17, 2024
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| Coupon: | 11.8% per year, paid monthly if the ETF closes at or above its 85% coupon barrier on observation date for period
|
| Price: | Par
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| Payout at maturity: | Par unless the ETF finishes below its 85% buffer level, in which case investors will lose 1.17647% for each 1% decline of the ETF beyond 15%
|
| Call: | Automatically at par if the ETF’s closing level is greater than or equal to its initial level on any monthly valuation date
|
| Initial level: | $390.58
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| Buffer: | $331.993, 85% of initial level
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| Coupon barrier: | $331.993, 85% of initial level
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 17
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 0.2%
|
| Cusip: | 06749NGW6
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