By Susanna Moon
Chicago, Sept. 22 – Barclays Bank plc priced $6.39 million of trigger autocallable contingent yield notes due Sept. 21, 2020 linked to Bank of America Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7% if the stock closes at or above its 67% coupon barrier on the determination date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 67% downside threshold, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying stock: | Bank of America Corp. (Symbol: BAC)
|
Amount: | $6,392,500
|
Maturity: | Sept. 21, 2020
|
Coupon: | 7% per year, payable quarterly if stock closes at or above 67% coupon barrier on determination date that quarter
|
Price: | Par of $10
|
Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, full exposure to decline
|
Call: | At par if stock closes at or above its initial level on each quarterly observation date beginning March 15, 2018
|
Initial level: | $24.38
|
Downside threshold: | $16.33, 67% of initial level
|
Pricing date: | Sept. 15
|
Settlement date: | Sept. 20
|
Agents: | UBS Financial Services Inc. and Barclays
|
Fees: | 2%
|
Cusip: | 06746M842
|
|
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.