By Kiku Steinfeld
Chicago, July 27 – Barclays Bank plc priced $4.9 million of trigger autocallable contingent yield notes due July 19, 2024 linked to the common shares of Corning Inc. according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if the shares close at or above the downside threshold level, 73.75% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par plus coupon if shares close at or above the initial share price on any quarterly observation date after six months.
The payout at maturity will be par plus unless the stock finishes at or below the downside threshold level, in which case investors will be fully exposed to the loss.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Corning Inc.
|
| Amount: | $4,897,450
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| Maturity: | July 19, 2024
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| Contingent coupon: | 8%, payable quarterly if stock closes at or above downside threshold on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below downside threshold, in which case full exposure to loss
|
| Call: | At par plus coupon if stock closes at or above initial level on any quarterly observation date after six months
|
| Initial price: | $39.82
|
| Downside threshold: | $29.37; 73.75% of initial price
|
| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2%
|
| Cusip: | 06747W419
|
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