By Susanna Moon
Chicago, Feb. 8 – Barclays Bank plc priced $7.01 million of trigger autocallable contingent yield notes due Feb. 3, 2021 linked to General Motors Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the stock closes at or above its 64% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the coupon if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the stock finishes below its 64% 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: | General Motors Co. (Symbol: GM)
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| Amount: | $7,006,150
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| Maturity: | Feb. 3, 2021
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| Coupon: | 8% annualized, payable quarterly if stock closes at or above its 64% coupon barrier on observation 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 64% downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing index
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| Call option: | At par if stock closes at or above initial level on each quarterly observation date beginning July 30, 2018
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| Initial level: | $43.02
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| Downside threshold: | $27.53, 64% of initial level
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| Pricing date: | Jan. 29
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| Settlement date: | Jan. 31
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2%
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| Cusip: | 06746P126
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