By Susanna Moon
Chicago, Aug. 23 – Barclays Bank plc priced $5.57 million of trigger autocallable contingent yield notes due Aug. 21, 2020 linked to MetLife, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if the stock closes at or above its coupon barrier, 64.25% of its initial level, on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 64.25% trigger level, in which case investors will be fully exposure to any losses.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | MetLife, Inc. (Symbol: MET)
|
| Amount: | $5,565,430
|
| Maturity: | Aug. 21, 2020
|
| Contingent coupon: | 7%, payable quarterly if stock closes at or above 64.25% coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call: | At par if stock closes at or above its initial level on any quarterly observation date beginning Feb. 20, 2018
|
| Payout at maturity: | Par unless stock finishes below 64.25% trigger, in which case 1% loss for each 1% decline
|
| Initial level: | $47.02
|
| Trigger level: | $30.21, 64.25% of initial level
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 23
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2%
|
| Cusip: | 06746L364
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
