By Wendy Van Sickle
Columbus, Ohio, April 19 – Barclays Bank plc priced $845,550 of contingent income autocallable securities due April 16, 2020 linked to the common stock of Applied Materials, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the shares close at or above the downside threshold level, 75% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 8.1%.
The notes will be called at par of $10 plus the contingent coupon if Applied Materials shares close at or above the initial level on any quarterly determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
Issuer: | Barclays Bank plc
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Issue: | Contingent income autocallable securities
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Underlying stock: | Applied Materials, Inc.
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Amount: | $845,550
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Maturity: | April 16, 2020
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Coupon: | 8.1% per year, payable quarterly if shares close at or above downside threshold level on determination date for that quarter
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Price: | Par of $10.00
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Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
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Call: | At par plus contingent coupon if shares close at or above initial level on any quarterly determination date
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Initial share price: | $37.52
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Downside threshold: | $28.14, or 75% of initial share price
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Pricing date: | April 13
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Settlement date: | April 19
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Agent: | Barclays
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Selected dealer: | Morgan Stanley Wealth Management
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Fees: | 2.5%
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Cusip: | 06746J690
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