By Susanna Moon
Chicago, July 19 – Barclays Bank plc priced $4.41 million of trigger autocallable contingent yield notes due July 16, 2021 linked to Twitter, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 11.4% if the stock closes at or above its 50% coupon barrier on the observation date for that quarter.
The notes will be called at par 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 50% downside threshold, in which case investors will lose 1% for each 1% decline.
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: | Twitter, Inc. (Symbol: TWTR)
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| Amount: | $4.41 million
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| Maturity: | July 16, 2021
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| Coupon: | 11.4% annualized, payable quarterly if stock closes at or above its 50% coupon barrier on the 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 trigger level, par; otherwise, 1% loss per 1% decline
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| Call: | At par if stock closes at or above its initial level on each quarterly observation date beginning Jan. 14, 2019
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| Initial level: | $44.49
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| Downside threshold: | $22.25, 50% of initial level
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| Pricing date: | July 13
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| Settlement date: | July 18
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2%
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| Cusip: | 06746T466
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