By Wendy Van Sickle
Columbus, Ohio, Oct. 18 – Barclays Bank plc priced $4.33 million of trigger autocallable contingent yield notes due July 20, 2022 linked to the common shares of Bank of America Corp. according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.6% per year if the shares close at or above the downside threshold level, 82% 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.
If the notes are not called and the final share price is greater than or equal to the threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% of stock decline from its initial price.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Bank of America Corp.
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| Amount: | $4.33 million
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| Maturity: | July 20, 2022
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| Contingent coupon: | 8.6%, payable quarterly if stock closes at or above downside threshold on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus the final coupon unless stock finishes below downside threshold level, in which case investors will be fully exposed to the stock’s decline from its initial price
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| Call: | At par plus coupon if stock closes at or above initial level on any quarterly observation date
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| Initial price: | $38.83
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| Downside threshold: | $31.84; 82% of initial price
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| Pricing date: | July 15
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| Settlement date: | July 20
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| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
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| Fees: | 1.5%
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| Cusip: | 06747W476
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