By Wendy Van Sickle
Columbus, Ohio, March 2 – Barclays Bank plc priced $2.21 million of trigger autocallable contingent yield notes due Feb. 15, 2024 linked to the iShares Russell 2000 ETF and the SPDR S&P MidCap 400 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.1% if each ETF 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 after six months.
The payout at maturity will be par plus the coupon unless either ETF finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETFs: | iShares Russell 2000 ETF and SPDR S&P MidCap 400 ETF trust
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| Amount: | $2,207,860
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| Maturity: | Feb. 15, 2024
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| Coupon: | 9.1%, payable quarterly if each ETF 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 after six months
|
| Payout at maturity: | Par plus the coupon if both ETFs finish above 70% of initial level; otherwise, 1% loss for each 1% decline of the worse performing ETF from initial level
|
| Initial levels: | $227.26 for Russell and $463.58 for MidCap
|
| Coupon barriers: | $159.08 for Russell and $324.51 for MidCap, 70% of initial levels
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| Downside thresholds: | $159.08 for Russell and $324.51 for MidCap, 70% of initial levels
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 18
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 0%
|
| Cusip: | 06744A543
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