By Wendy Van Sickle
Columbus, Ohio, June 25 – Barclays Bank plc priced $2.03 million of trigger autocallable contingent yield notes due June 24, 2024 linked to the iShares MSCI EAFE ETF and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.3% if each underlier closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if both ETFs close above their initial levels on any quarterly observation date starting on Dec. 21.
The payout at maturity will be par plus the coupon, if any, unless either underlier finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underliers: | iShares MSCI EAFE ETF and iShares Russell 2000 ETF
|
| Amount: | $2,029,000
|
| Maturity: | June 24, 2024
|
| Coupon: | 7.3%, payable quarterly if each underlier closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par plus the coupon if both ETFs close above their initial levels on any quarterly observation date starting on Dec. 21
|
| Payout at maturity: | Par plus any coupon if each ETF finishes above 50% of initial level; otherwise, 1% loss for each 1% decline of the worse performing underlier from initial level
|
| Initial levels: | $61.04 for EAFE, $140.99 for Russell
|
| Coupon barriers: | $42.73 for EAFE, $98.69 for Russell, 70% of initial levels
|
| Downside thresholds: | $30.52 for EAFE, $70.50 for Russell, 50% of initial levels
|
| Pricing date: | June 19
|
| Settlement date: | June 24
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 2.25%
|
| Cusip: | 06747J608
|
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