By Wendy Van Sickle
Columbus, Ohio, March 24 – Barclays Bank plc priced $19.36 million of autocallable contingent income autocallable securities due March 15, 2024 linked to the stocks of Walt Disney Co. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent income at the rate of 11% per year if the least-performing stock closes at or above its trigger price, 60% of its initial price, on the observation date for that quarter.
The notes will be called at par if the least-performing stock closes at or above its initial price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the least-performing stock finishes below its trigger price, in which case investors will be fully exposed to the decline.
Barclays is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Walt Disney Co. and Netflix, Inc.
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| Amount: | $19,358,500
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| Maturity: | March 15, 2024
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| Coupon: | 11%, payable quarterly if least-performing stock closes at or above trigger price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below trigger price, in which case full exposure to decline of least-performing stock
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| Call: | At par if least-performing stock closes at or above initial price on any quarterly observation date
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| Initial share prices: | $197.16 for Disney and $518.02 for Netflix
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| Trigger price: | $118.296 for Disney and $310.812 for Netflix, 60% of initial share price
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| Pricing date: | March 12
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| Settlement date: | March 17
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| Agent: | Barclays
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| Distributor: | Morgan Stanley Smith Barney LLC
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| Fees: | 2.5%
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| Cusip: | 06744A212
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