Published on 8/16/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.28 million trigger autocallables on Russell 2000, Euro Stoxx
By Marisa Wong
Morgantown, W.Va., Aug. 16 – Barclays Bank plc priced $3.28 million of trigger autocallable contingent yield notes due Aug. 15, 2019 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at a rate of 8.4% per year if each index closes at or above its downside threshold, 70% of its initial level, on the observation date for that quarter.
Beginning Feb. 13, 2017, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold, in which case investors will be fully exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc.
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $3,279,560
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| Maturity: | Aug. 15, 2019
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| Coupon: | 8.4%, payable quarterly if indexes close at or above coupon barrier level on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
|
| Call: | After six months, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
| Initial levels: | 3,044.94 for Euro Stoxx and 1,229.820 for Russell
|
| Barrier/downside thresholds: | 2,131.46 for Euro Stoxx and 860.874 for Russell, 70% of initial levels
|
| Pricing date: | Aug. 12
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| Settlement date: | Aug. 17
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2%
|
| Cusip: | 06745B821
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