By Angela McDaniels
Tacoma, Wash., April 18 – Barclays Bank plc priced $1.35 million of trigger autocallable contingent yield notes due April 21, 2021 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 7% the each index closes at or above the downside threshold, 77% of the initial index level, on the observation date for that quarter.
Beginning Oct. 16, the notes will be automatically called at par of $10 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 its downside threshold, in which case investors will be 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: | $1,354,300
|
| Maturity: | April 21, 2021
|
| Coupon: | 7%, payable quarterly if index closes at or above downside thresholds on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless index finishes below downside threshold, in which case exposure to index’s decline from initial level
|
| Call: | Beginning Oct. 16, automatically at par if index closes at or above initial level on any quarterly observation date
|
| Initial level: | 1,582.785
|
| Downside threshold: | 1,218.744, or 77% of initial level
|
| Pricing date: | April 16
|
| Settlement date: | April 22
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06747A615
|
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