By William Gullotti
Buffalo, N.Y., Feb. 24 – Barclays Bank plc priced $8.37 million of trigger autocallable contingent yield notes due Feb. 21, 2025 linked to the lesser performing of the Invesco S&P 500 Equal Weight 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 9.6% if each ETF closes at or above its coupon barrier, 70% 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 at or 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 70% 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: | Invesco S&P 500 Equal Weight ETF, iShares Russell 2000 Value ETF
|
| Amount: | $8,374,200
|
| Maturity: | Feb. 21, 2025
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| Coupon: | 9.6% 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 at or above 70% 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 at or above their initial levels on any quarterly observation date after six months
|
| Initial levels: | $153.55 for Invesco, $156.60 for iShares
|
| Coupon barriers: | $107.49 for Invesco, $109.62 for iShares; 70% of initial levels
|
| Downside thresholds: | $107.49 for Invesco, $109.62 for iShares; 70% of initial levels
|
| Pricing date: | Feb. 18
|
| Settlement date: | Feb. 24
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 06748B786
|
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