By Angela McDaniels
Tacoma, Wash., June 3 – Barclays Bank plc priced $2.46 million of trigger autocallable contingent yield notes due May 28, 2021 linked to the common stock of AbbVie Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 9% per year if AbbVie shares close at or above the downside threshold level, 66.5% of the initial share price, on the observation date for that month.
Beginning May 24, 2017, the notes will be automatically called at par of $10 if AbbVie shares close 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 downside threshold level, the payout at maturity will be par. 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: | AbbVie Inc. (Symbol: ABBV)
|
| Amount: | $2,460,150
|
| Maturity: | May 28, 2021
|
| Coupon: | Each month, notes pay contingent coupon at rate of 9% per year if shares close at or above downside threshold level on observation date for that month
|
| Price: | Par of $10.00
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | Beginning May 24, 2017, automatically at par if AbbVie shares close at or above initial share price on any monthly observation date
|
| Initial share price: | $61.90
|
| Downside threshold: | $41.16, 66.5% of initial share price
|
| Pricing date: | May 26
|
| Settlement date: | May 31
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06744K368
|
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