New York, Dec. 23 – Barclays Bank plc priced $12.22 million of contingent income autocallable securities due Dec. 20, 2024 linked to Synchrony Financial common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5% if the underlying stock closes at or above its 75% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the stock closes above its initial level on any quarterly determination date.
At maturity the payout will be par unless the stock closes below its 75% downside threshold in which case investors will be fully exposed to the decline of the stock.
Barclays is the agent. Morgan Stanley Wealth Management is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Synchrony Financial (Ticker: SYF)
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| Amount: | $12,216,630
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| Maturity: | Dec. 20, 2024
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| Coupon: | 12.5% annual rate, payable if the underlying stock closes at or above its downside threshold on the related quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the underlying stock
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| Call: | Automatically at par if stock closes above its initial level on quarterly determination date
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| Initial level: | $46.65
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| Downside threshold: | $34.988, 75% of initial level
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| Pricing date: | Dec. 17
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| Settlement date: | Dec. 22
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| Agent: | Barclays with Morgan Stanley Wealth Management as distributor
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| Fees: | 2.5% including a structuring fee of 0.5%
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| Cusip: | 06748A796
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