By Kiku Steinfeld
Chicago, Dec. 2 – Barclays Bank plc priced $10 million of 13.85% fixed coupon autocallable securities due Nov. 18, 2021 linked to the American Depository shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the stock closes at or above its initial price, on a monthly determination date, the notes will be automatically called at par plus the coupon.
If the stock finishes at or above the 80% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, the payout will be a number of Alibaba shares equal to $1,000 divided by the downside threshold level or, at the issuer’s option, a cash amount equal to the 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 stock: | Alibaba Group Holding Ltd.
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| Amount: | $10 million
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| Maturity: | Nov. 18, 2021
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| Coupon: | 13.85%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the final level of the stock is below 80% of initial level in which case 4.72930 Alibaba shares
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| Call: | Automatically at par if the stock closes at or above its redemption threshold level, 100% of initial level, on a monthly determination date
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| Initial share price: | $264.31
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| Downside threshold: | $211.448; 80% of initial levels
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 18
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.2%
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| Cusip: | 06747QQL4
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