By Wendy Van Sickle
Columbus, Ohio, June 15 – Barclays Bank plc priced $1.09 million of trigger autocallable contingent yield notes due June 12, 2026 linked to the stock performance of Humana Inc. according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if the shares close at or above the downside threshold level, 63.5% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par plus coupon if shares close at or above the initial share price on any quarterly observation date after six months.
If the notes are not called and the final share price is greater than or equal to the threshold level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% decline from initial price.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger autocallable contingent yield notes
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Underlying stock: | Humana Inc.
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Amount: | $1,088,000
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Maturity: | June 12, 2026
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Contingent coupon: | 8%, payable quarterly if stock closes at or above downside threshold on observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par plus the final coupon unless stock finishes below downside threshold level, in which case investors will lose 1% for every 1% decline from initial price
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Call: | At par plus coupon if stock closes at or above initial level on any quarterly observation date after six months
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Initial price: | $513.34
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Downside threshold: | $325.97; 63.5% of initial price
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Pricing date: | June 9
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Settlement date: | June 14
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Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
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Fees: | 2%
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Cusip: | 06748G421
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