By Wendy Van Sickle
Columbus, Ohio, March 26 – Barclays Bank plc priced $2.47 million of market-linked securities – autocallable with contingent coupon and contingent downside due March 25, 2025 linked to the stock performance of Rivian Automotive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The 31.75% coupon will be paid monthly if the stock closes at or above its threshold price, 50% of its initial level, on the related observation date.
The notes will be called at par plus coupon if the stock closes at or above its initial level on any quarterly observation date after six months.
At maturity, the payout will be par plus the final coupon unless the stock finishes below its threshold level, in which case the payout will be par plus the return of the stock with full exposure to loss.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying stock: | Rivian Automotive, Inc.
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| Amount: | $2,473,000
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| Maturity: | March 25, 2025
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| Coupon: | 31.75% annualized, payable monthly if stock closes at or above threshold price on related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below threshold level, in which case 1% loss per 1% decline of the stock from its initial level
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| Call: | At par plus coupon if the stock closes at or above its initial level on any quarterly call date after six months
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| Initial level: | $11.36
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| Threshold level: | $5.68; 50% of initial level
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| Pricing date: | March 20
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| Settlement date: | March 25
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| Agents: | Wells Fargo Securities, LLC and Barclays Capital Inc.
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| Fees: | 1.325%
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| Cusip: | 06745QBJ7
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