By Susanna Moon
Chicago, April 19 – Barclays Bank plc priced $5.54 million of contingent income autocallable securities due April 18, 2019 linked to the American Depositary Shares of Petroleo Brasileiro SA, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12% if the underlying stock closes at or above its 65% coupon barrier on the determination date that quarter.
The notes will be called at par if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses.
Barclays is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying asset: | Petroleo Brasileiro SA (Symbol: PBR)
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| Amount: | $5,538,900
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| Maturity: | April 18, 2019
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| Coupon: | 12% annualized, payable quarterly if stock closes at or above 65% coupon barrier on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if stock closes at or above initial level on any determination date other than the final date
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| Initial level: | $13.86
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| Downside threshold: | $9.009, 65% of initial level
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| Pricing date: | April 13
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| Settlement date: | April 18
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| Agent: | Barclays with Morgan Stanley Wealth Management as a distributor
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| Fees: | 1.25%
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| Cusip: | 06746R627
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