New York, Jan. 25 – Barclays Bank plc priced $5.35 million of contingent income autocallable securities due Jan. 25, 2024 linked to the KraneShares CSI China Internet ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.5% per year, payable quarterly, if the ETF closes at or above its 60% downside threshold on the relevant observation date.
The securities will be called automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any quarterly review date.
At maturity, the payout will be par unless the ETF finishes below its downside threshold level, in which case investors will be fully exposed to the decline of the fund.
Barclays Capital Inc. is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying fund: | KraneShares CSI China Internet ETF (Ticker: KWEB)
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| Amount: | $5.35 million
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| Maturity: | Jan. 25, 2024
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| Coupon: | 14.5% per year, payable quarterly if the ETF closes at or above downside threshold on the relevant observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless the ETF finishes below its downside threshold level, in which case investors will be fully exposed to the decline of the ETF
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| Call: | Automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any quarterly review date
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| Initial level: | $34.85
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| Downside threshold: | $20.910, 60% of initial level
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 25
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| Agent: | Barclays Capital Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.75% including a structuring fee of 0.5%
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| Cusip: | 06748D618
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