By Angela McDaniels
Tacoma, Wash., Aug. 3 – Barclays Bank plc priced $15 million of airbag autocallable contingent yield notes due July 30, 2024 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the conversion price, 60% of the initial share price, on a monthly observation date, the notes will pay a contingent coupon at the rate of 16.51% per year plus all previously unpaid coupons.
The notes will be automatically called at par if the stock closes at or above the initial share price on any monthly observation date.
If the notes are not called and the final share price is greater than or equal to the conversion price, the payout at maturity will be par. Otherwise, investors will receive a number of Tesla shares equal to $1,000 divided by the conversion pride.
UBS Securities LLC and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Airbag autocallable contingent yield notes
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| Underlying stock: | Tesla, Inc.
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| Amount: | $15 million
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| Maturity: | July 30, 2024
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| Coupon: | 16.51% per year, payable monthly plus all previously unpaid coupons if stock closes at or above conversion price on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case 6.2826 Tesla shares
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| Call: | Automatically at par if stock closes at or above initial share price on any monthly observation date
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| Initial share price: | $265.28
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| Conversion price: | $159.17, or 60% of initial share price
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| Strike date: | July 25
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Underwriters: | UBS Securities LLC and Barclays
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| Fees: | 0.1%
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| Cusip: | 06748H734
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