By Marisa Wong
Morgantown, W.Va., Feb. 25 – Barclays Bank plc priced $6.21 million of trigger autocallable contingent yield notes due Feb. 18, 2022 linked to Intel Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 8% if the stock closes at or above its 63.75% coupon barrier on the related quarterly observation date.
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 unless the stock finishes below its 63.75% downside threshold, in which case investors will lose 1% for each 1% decline.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Intel Corp. (Symbol: INTC)
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| Amount: | $6,207,500
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| Maturity: | Feb. 18, 2022
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| Coupon: | 8% annualized, payable quarterly if stock closes at or above its coupon barrier on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | If stock finishes at or above downside threshold, par plus contingent coupon; otherwise, 1% loss per 1% decline
|
| Call: | At par if stock closes at or above its initial price on any quarterly observation date after six months
|
| Initial price: | $51.66
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| Coupon barrier: | $32.93, 63.75% of initial price
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| Downside threshold: | $32.93, 63.75% of initial price
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 21
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2%
|
| Cusip: | 06746Y556
|
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