Published on 3/2/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1 million 9% contingent yield trigger autocalls on two indexes
By Susanna Moon
Chicago, March 2 – Barclays Bank plc priced $1 million of trigger autocallable contingent yield notes due Feb. 16, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each index closes at or above its 70% coupon barrier on each day during that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless either index finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $1 million
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| Maturity: | Feb. 16, 2023
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| Coupon: | 9% annualized, payable quarterly if each index closes at or above 70% coupon barrier on each day during that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above 70% downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing index
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| Call : | At par if each index closes at or above its initial level on any quarterly determination date beginning Feb. 12, 2019
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| Initial levels: | 2,656 for S&P, 1,490.981 for Russell
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| Downside thresholds: | 1,859.20 for S&P, 1,043.687 for Russell, 70% of initial levels
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 15
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | None
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| Cusip: | 06746Q652
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