By Wendy Van Sickle
Columbus, Ohio, Oct. 18 – Barclays Bank plc priced $3.56 million of trigger autocallable contingent yield notes due Sept. 27, 2023 linked to the Russell 2000 index, 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 index closes at or above the coupon barrier, 75% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par plus coupon if the index closes at or above the initial level on any quarterly observation date after six months.
If the notes are not called and the final level is greater than or equal to the downside threshold level, 75% of the initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying index: | Russell 2000 index
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| Amount: | $3,559,800
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| Maturity: | Sept. 27, 2023
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| Contingent coupon: | 9% annual rate, payable quarterly if index closes at or above coupon barrier on related quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus final coupon unless index finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
|
| Call: | Automatically at par plus coupon if index closes at or above initial level on any quarterly observation date after six months
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| Initial level: | 2,218.561
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| Coupon barrier: | 1,663.921; 75% of initial level
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| Downside threshold: | 1,663.921; 75% of initial level
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
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| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 0%
|
| Cusip: | 06747X359
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