By Sarah Lizee
Olympia, Wash., June 28 – Barclays Bank plc priced $10.4 million of 10% airbag yield notes due June 29, 2020 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the final reference rate level is greater than or equal to the downside threshold, 54.153% of the initial level, the payout will be par.
Otherwise, investors will lose 1.8466% for every 1% decline of the reference rate beyond 54.153% of its initial level.
UBS Financial Services Inc. and Barclays are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Airbag yield notes
|
| Underlying rate: | Libor
|
| Amount: | $10.4 million
|
| Maturity: | June 29, 2020
|
| Coupon: | 10%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If the final reference rate level is greater than or equal to the downside threshold, par; otherwise, investors will lose 1.8466% for every 1% decline of the reference rate beyond 54.153% of its initial level
|
| Initial rate: | 2.32988%
|
| Buffer level: | 1.26170%, 54.153% of initial level
|
| Pricing date: | June 26
|
| Settlement date: | June 28
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2%
|
| Cusip: | 06747N2J2
|
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