By Marisa Wong
Madison, Wis., Nov. 13 – Barclays Bank plc priced $1.25 million of 0% trigger autocallable optimization securities due Nov. 14, 2019 linked to the common stock of Cummins Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Beginning one year after issuance, the notes will be called at par of $10 plus a call return of 8% per year if Cummins stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and Cummins shares finish at or above the trigger price, 62.5% of the initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline in the share price.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable optimization securities
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| Underlying stock: | Cummins Inc. (Symbol: CMI)
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| Amount: | $1,245,300
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| Maturity: | Nov. 14, 2019
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final price level is greater than or equal to trigger price, par; otherwise, full exposure to any losses
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| Initial price: | $146.04
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| Trigger price: | $91.28, 62.5% of initial price
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| Call: | Par plus 8% per year if stock closes at or above the initial share price on any quarterly observation date after one year
|
| Pricing date: | Nov. 7
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| Settlement date: | Nov. 13
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| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06742Y519
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