Published on 9/13/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.79 million trigger callable notes on three indexes
By Devika Patel
Knoxville, Tenn., Sept. 13 – Barclays Bank plc priced $3.79 million of trigger callable contingent yield notes due Sept. 17, 2018 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10% if each index’s closing level remains at or above its coupon barrier level, 65% of its initial level, on each day during that quarter.
The notes will be callable at par of $10 on any quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% decline of the least-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 index, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $3,793,000
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| Maturity: | Sept. 17, 2018
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| Coupon: | 10% per year, payable quarterly if each index closes at or above its barrier level each day for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for every 1% decline of worst performing index
|
| Call option: | At par quarterly
|
| Initial levels: | 1,219.210 for Russell, 2,127.81 for S&P, 3,053.20 for Stoxx
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| Barrier/downside threshold: | 792.487 for Russell, 1,383.08 for S&P, 1,984.58 for Stoxx; 65% of initial levels
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| Pricing date: | Sept. 9
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| Settlement date: | Sept. 16
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| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.5%
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| Cusip: | 06745B441
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