By Susanna Moon
Chicago, Oct. 19 – Barclays Bank plc priced $11.4 million of trigger autocallable contingent yield notes due Oct. 16, 2020 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7% if the stock closes at or above its 71.5% coupon barrier on the determination date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par unless the stock finishes below its 71.5% downside threshold, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Apple Inc. (Symbol: AAPL)
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| Amount: | $11,399,800
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| Maturity: | Oct. 16, 2020
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| Coupon: | 7% per year, payable quarterly if stock closes at or above 71.5% coupon barrier on determination date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above 71.5% downside threshold, par; otherwise, 1% loss per 1% decline
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| Call: | At par if stock closes at or above its initial level on any quarterly observation date beginning April 13, 2018
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| Initial level: | $156.99
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| Downside threshold: | $112.25, 71.5% of initial level
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| Pricing date: | Oct. 13
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| Settlement date: | Oct. 18
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2%
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| Cusip: | 06746M297
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