By Wendy Van Sickle
Columbus, Ohio, June 19 – Barclays Bank plc priced $999,000 trigger autocallable contingent yield notes due June 18, 2021 linked to the common stock of Best Buy Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 8% if the shares close at or above the coupon barrier, 71.5% of the initial level, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if the stock closes at or above the initial share price on any observation date.
If the notes are not called and the final share price is greater than or equal to the 53.25% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Best Buy Co., Inc.
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| Amount: | $999,000
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| Maturity: | June 18, 2021
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| Coupon: | 8%, payable quarterly if shares close at or above coupon barrier on observation date
|
| Price: | Par of $10
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| Call: | After six months, at par if shares close at or above initial price on any observation date
|
| Payout at maturity: | Par plus final coupon unless stock finishes below downside threshold, in which case 1% loss for every 1% decline
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| Initial price: | $74.81
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| Coupon barrier/downside threshold: | $39.84; 53.25% of initial price
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| Pricing date: | June 15
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| Settlement date: | June 20
|
| Underwriters: | Barclays Capital Inc. and UBS Financial Services Inc.
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| Fees: | 2%
|
| Cusip: | 06746T755
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