By Wendy Van Sickle
Columbus, Ohio, Nov. 22 – Barclays Bank plc priced $14.86 million of trigger autocallable contingent yield notes due Nov. 21, 2024 linked to the lesser performing of the iShares S&P 500 Value ETF and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.4% if each ETF closes at or above its coupon barrier, 72% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if both ETFs close above their initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the coupon unless either ETF finishes below its 72% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETFs: | iShares S&P 500 Value ETF, iShares Russell 2000 Value ETF
|
| Amount: | $14,859,200
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| Maturity: | Nov. 21, 2024
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| Coupon: | 6.4% annual rate, payable quarterly if each ETF closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the coupon if both ETFs finish above 72% of initial level; otherwise, 1% loss for each 1% decline of the worst performer from initial level
|
| Call: | At par plus the coupon if both ETFs close above their initial levels on any quarterly observation date after six months
|
| Initial levels: | $153.56 for S&P Value ETF, $172.69 for Russell Value ETF
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| Coupon barriers: | $110.56 for S&P Value ETF, $124.34 for Russell Value ETF; 72% of initial levels
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| Downside thresholds: | $110.56 for S&P Value ETF, $124.34 for Russell Value ETF; 72% of initial levels
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 06747Y357
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