By Wendy Van Sickle
Columbus, Ohio, March 17 – Barclays Bank plc priced $3 million of trigger autocallable contingent yield notes due Feb. 29, 2024 linked to 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 6.75% if the ETF closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if the ETF closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the coupon unless the ETF finishes below the 65% downside threshold, in which case investors will lose 1% for each 1% decline of the ETF from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETF: | iShares Russell 2000
|
| Amount: | $3 million
|
| Maturity: | Feb. 29, 2024
|
| Coupon: | 6.75% annual rate, payable quarterly if the ETF closes at or above coupon barrier on related observation date
|
| Price: | Par of $10
|
| Call: | At par plus coupon if the ETF closes at or above initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par plus coupon if ETF closes above 65% of initial level; otherwise, 1% for each 1% decline of ETF from initial level
|
| Initial level: | $227.00
|
| Coupon barrier: | $147.55, 65% of initial level
|
| Downside threshold: | $147.55, 65% of initial level
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 26
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.25%
|
| Cusip: | 06744A337
|
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