By Wendy Van Sickle
Columbus, Ohio, April 16 – Barclays Bank plc priced $26.73 million of trigger autocallable contingent yield notes due April 15, 2027 linked to the lesser performing of the SPDR S&P 500 ETF trust and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.45% if each ETF closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if each ETF closes at or above their initial levels on any quarterly observation date after six months.
The payout at maturity will be par if each ETF finishes at or above its 60% final barrier.
Otherwise, investors will lose 1% for each 1% decline of the laggard 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: | SPDR S&P 500 ETF trust and Energy Select Sector SPDR fund
|
| Amount: | $26,732,850
|
| Maturity: | April 15, 2027
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| Coupon: | 8.45% annual rate, payable quarterly if each ETF closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par if each ETF finishes at or above final barrier; otherwise, 1% loss for each 1% decline of the laggard ETF from initial level
|
| Call: | At par plus the coupon if each ETF closes at or above their initial levels on any quarterly observation date after six months
|
| Initial levels: | $514.12 for SPDR S&P 500, $97.79 for Energy
|
| Coupon barriers: | $308.47 for SPDR S&P 500, $58.67 for Energy; 60% of initial levels
|
| Downside thresholds: | $308.47 for SPDR S&P 500, $58.67 for Energy; 60% of initial levels
|
| Pricing date: | April 10
|
| Settlement date: | April 15
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 06748L123
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