By Marisa Wong
Madison, Wis., Nov. 18 – Barclays Bank plc priced $467,000 of trigger phoenix autocallable optimization securities due Nov. 20, 2019 linked to Time Warner Cable Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if the stock closes at or above the coupon barrier, 73.5% of the initial share price, on any observation date for that month.
The notes will be called at par if Time Warner shares close at or above the initial share price on any monthly observation date after one year.
The payout at maturity will be par unless the stock finishes below the 73.5% trigger level, in which case investors will be fully exposed to any losses.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Time Warner Cable Inc. (Symbol: TWC)
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| Amount: | $467,000
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| Maturity: | Nov. 20, 2019
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| Coupon: | 8% per year, payable monthly if stock closes at or above trigger price on observation date for that month
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Time Warner shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if Time Warner shares close at or above initial price on any monthly observation date
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| Initial share price: | $140.01
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| Barrier/trigger price: | $102.91, 73.5% of initial share price
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| Pricing date: | Nov. 14
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| Settlement date: | Nov. 19
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2.5%
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| Cusip: | 06742Y451
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