By Wendy Van Sickle
Columbus, Ohio, March 30 – Barclays Bank plc priced $10.8 million of trigger autocallable contingent yield notes due April 2, 2020 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at the rate of 9% per year if the shares close at or above the downside threshold level, 60% of the initial share price, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if the shares close 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 downside threshold level, 60% of the initial share price, the payout at maturity will be par plus the final coupon payment. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Ford Motor Co.
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| Amount: | $10,798,000
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| Maturity: | April 2, 2020
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| Contingent coupon: | 9%, payable quarterly if stock closes at or above downside threshold on observation date for that quarter
|
| Price: | Par of $10
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| Payout at maturity: | Par plus final coupon payment unless stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
|
| Call: | Beginning Sept. 29, 2017, automatically at par if stock closes at or above initial level on any monthly observation date
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| Initial price: | $11.68
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| Downside threshold: | $7.01, 60% of initial price
|
| Pricing date: | March 29
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| Settlement date: | March 31
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2%
|
| Cusip: | 06745J708
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