By Wendy Van Sickle
Columbus, Ohio, June 28 – Barclays Bank plc priced $10 million of contingent income autocallable securities due June 28, 2024 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.56% if the underlying stock closes at or above its 80% downside threshold on the related monthly observation date.
The securities will be called automatically at par if the price of the underlying stock is greater than or equal to its initial price on any monthly review date.
At maturity the payout will be par unless the stock closes below its 80% downside threshold level in which case investors will lose 1.25% for each 1% decline in the stock beyond 20%.
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: | Microsoft Corp. (Ticker: MSFT)
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| Amount: | $10 million
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| Maturity: | June 28, 2024
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| Coupon: | 13.56% if the underlying stock closes at or above its 80% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case 1.25% loss for each 1% decline in the stock beyond 20%
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| Call: | Automatically at par if the price of the underlying stock is greater than or equal to its initial price on any monthly review date
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| Initial level: | $333.56
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| Downside threshold: | $266.848, 80% of initial level
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| Pricing date: | June 22
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| Settlement date: | June 27
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| Agent: | Morgan Stanley Wealth Management
|
| Fees: | 0.1%
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| Cusip: | 06745ML48
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