By Angela McDaniels
Tacoma, Wash., April 19 – Barclays Bank plc priced $4.47 million of trigger autocallable contingent yield notes due April 20, 2018 linked to the iShares Russell 2000 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if the ETF closes at or above its downside threshold level, 77.5% of its initial share price, on the observation date for that quarter.
The notes will be automatically called at par of $10 if the ETF closes at or above its initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the ETF’s final share price is less than its initial share price.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETF: | iShares Russell 2000 ETF
|
| Amount: | $4,467,450
|
| Maturity: | April 20, 2018
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 8% per year if ETF closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that ETF’s final share price is less than initial share price
|
| Call: | Automatically at par if ETF closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $112.47
|
| Downside threshold: | $87.16, 77.5% of initial share price
|
| Pricing date: | April 15
|
| Settlement date: | April 20
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06740Q641
|
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