By Wendy Van Sickle
Columbus, Ohio, May 24 – Barclays Bank plc priced $364,000 of trigger autocallable contingent yield notes due May 3, 2024 linked to the common shares of Jazz Pharmaceuticals plc 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, 63.7% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par 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. Otherwise, investors will be fully exposed to the decline of the stock from its initial level.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Jazz Pharmaceuticals plc
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| Amount: | $364,000
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| Maturity: | May 3, 2024
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| Contingent coupon: | 8%, payable quarterly if stock closes at or above downside threshold on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below downside threshold level, in which case exposure to all losses
|
| Call: | At par if stock closes at or above initial level on any quarterly observation date after six months
|
| Initial price: | $164.40
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| Downside threshold: | $104.72, 63.7% of initial price
|
| Pricing date: | April 30
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| Settlement date: | May 5
|
| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2%
|
| Cusip: | 06747R121
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