By Marisa Wong
Morgantown, W.Va., May 15 – Barclays Bank plc priced $1 million of trigger autocallable contingent yield notes due May 10, 2022 linked to the common stock of JPMorgan Chase & Co., 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 the shares close at or above the downside threshold level, 78.95% of the initial share price, on the observation date for that month.
After one year, the notes will be automatically called at par of $10 if the shares close at or above the initial share price on any observation date other than the final one.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 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.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | JPMorgan Chase & Co. (Symbol: JPM)
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| Amount: | $1 million
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| Maturity: | May 10, 2022
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| Contingent coupon: | 7%, payable monthly if stock closes at or above downside threshold on observation date for that month
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| Price: | Par of $10
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| Payout at maturity: | Par unless stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
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| Call: | After one year, automatically at par if stock closes at or above initial level on any observation date other than the final one
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| Initial price: | $87.61
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| Downside threshold: | $69.17, 78.95% of initial price
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| Pricing date: | May 3
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| Settlement date: | May 10
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| Agents: | Barclays and UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 06746J195
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