By William Gullotti
Buffalo, N.Y., June 28 – Barclays Bank plc priced $10 million of airbag autocallable contingent yield notes due June 22, 2022 linked to the common stock of Bank of America Corp. according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly at an annualized rate of 11.55% if the stock closes above its coupon barrier, 85% of the initial level, on the related observation date.
The notes will be called automatically at par if the shares close at or above the initial share price on any monthly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, 85% of the initial share price, in which case the payout will be a number of shares equal to $1,000 divided by the conversion price.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Airbag autocallable contingent yield notes
|
| Underlying stock: | Bank of America Corp.
|
| Amount: | $10,000,000
|
| Maturity: | June 22, 2022
|
| Coupon: | 11.55%, payable monthly if stock closes above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless final share price is less than conversion price, in which case 29.5596 shares
|
| Call: | Automatically at par if the shares close at or above initial share price on any monthly observation date
|
| Initial share price: | $39.80
|
| Coupon barrier: | $33.83; 85% of initial share price
|
| Conversion price: | $33.83; 85% of initial share price
|
| Pricing date: | June 18
|
| Settlement date: | June 23
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 0.25%
|
| Cusip: | 06747W872
|
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