By Wendy Van Sickle
Columbus, Ohio, Oct. 13 – Barclays Bank plc priced $3.65 million of trigger autocallable contingent yield notes due Oct. 13, 2021 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 7% per year if Microsoft shares close at or above the downside threshold level, 68% of the initial share price, on the observation date for that month.
Beginning Oct. 10, 2017, the notes will be automatically called at par of $10 if Microsoft shares close at or above the initial share price on any monthly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 68% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Microsoft Corp.
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| Amount: | $3,648,800
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| Maturity: | Oct. 13, 2021
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| Contingent coupon: | 7%, payable monthly if stock closes at or above downside threshold on observation date for that month
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
|
| Call: | Beginning Oct. 10, 2017, automatically at par if stock closes at or above initial level on any quarterly observation date
|
| Initial price: | $57.80
|
| Coupon/downside threshold: | $39.30, 68% of initial price
|
| Pricing date: | Oct. 7
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| Settlement date: | Oct. 12
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06745B144
|
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