By Devika Patel
Knoxville, Tenn., Jan. 21 – Barclays Bank plc priced $515,000 of trigger phoenix autocallable optimization securities due Jan. 18, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the coupon barrier, 70% of the initial level, on a semiannual observation date, the issuer will pay a contingent coupon for that period at the rate of 9% per year. Otherwise, no coupon will be paid that period.
Beginning on July 15, 2016, if the index closes at or above the initial level on a semiannual observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the index finishes at or above the 70% trigger level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to any declines.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying index: | Russell 2000
|
| Amount: | $515,000
|
| Maturity: | Jan. 18, 2019
|
| Coupon: | 9% per year, payable semiannually if index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if index finishes at or above trigger level; otherwise, par plus index return
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on a semiannual observation date after July 15, 2016
|
| Initial level: | 1,007.725
|
| Coupon barrier/trigger level: | 705.408, 70% of initial level
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 21
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06743T329
|
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