By Angela McDaniels
Tacoma, Wash., June 21 – Barclays Bank plc priced $2 million of trigger autocallable contingent yield notes due June 20, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.5% if the index closes at or above the downside threshold level, 70% of the initial level, on the observation date for that quarter.
Beginning June 16, 2017, the notes will be called at par if the index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the index finishes below the downside threshold level, in which case investors will be fully exposed to the index’s decline from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying index: | Russell 2000
|
| Amount: | $2 million
|
| Maturity: | June 20, 2019
|
| Contingent coupon: | 8.5%, payable quarterly if index closes at or above downside threshold on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless index finishes below downside threshold level, in which case full exposure to index’s decline from initial level
|
| Call: | Beginning June 16, 2017, automatically at par if index closes at or above initial level on any quarterly observation date
|
| Initial level: | 1,148.191 (closing level on June 15)
|
| Downside threshold: | 803.734, 70% of initial level
|
| Pricing date: | June 17
|
| Settlement date: | June 22
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06744K152
|
© 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.
