By Wendy Van Sickle
Columbus, Ohio, July 8 – Barclays Bank plc priced $908,000 of trigger autocallable contingent yield notes due July 7, 2023 linked to the common stock of Laboratory Corp. of America Holdings, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9% per year if the shares close at or above the coupon barrier, 55% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation date after six months.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 55% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Laboratory Corp. of America Holdings
|
| Amount: | $908,000
|
| Maturity: | July 7, 2023
|
| Contingent coupon: | 9%, payable quarterly if stock closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless stock finishes below downside threshold, in which case 1% loss for each 1% decline from initial price
|
| Call: | Automatically at par if stock closes at or above initial price on any quarterly observation date after six months
|
| Initial price: | $167.03
|
| Coupon barrier: | $91.87, 55% of initial price
|
| Downside threshold: | $91.87, 55% of initial price
|
| Pricing date: | July 1
|
| Settlement date: | July 7
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2%
|
| Cusip: | 06747J673
|
|
|
© 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.
