Published on 2/8/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $13.35 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 8 – Barclays Bank plc priced $13.35 million of trigger callable contingent yield notes due Feb. 13, 2020 linked to the S&P 500 index, the Russell 2000 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 quarterly coupon at an annual rate of 10.4% if each index closes at or above its coupon barrier, 65% of its initial level, on each trading day during the observation period for that quarter.
The notes will be callable at par of $10 on each quarterly observation date prior to the final valuation date.
The payout at maturity will be par plus the contingent coupon, if any, unless any index finishes below its 60% downside threshold level, in which case investors will be fully exposed to any losses of the worst 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: | S&P 500, Russell 2000, Euro Stoxx 50
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Amount: | $13,347,000
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Maturity: | Feb. 13, 2020
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Coupon: | 10.4%, payable quarterly if each index closes at or above coupon barrier on each trading day during quarterly observation period
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Price: | Par of $10
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Call option: | At par quarterly on any coupon date other than the final date
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Payout at maturity: | Par unless any index finishes below downside threshold, in which case 1% loss for each 1% decline of the worst performing index
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Initial levels: | 2,292.56 for S&P, 1,366.660 for Russell, 3,238.31 for Stoxx
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Coupon barriers: | 1,490.16 for S&P, 888.329 for Russell, 2,104.90 for Stoxx; 65% of initial levels
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Downside thresholds: | 1,375.54 for S&P, 819.996 for Russell, 1,942.99 for Stoxx; 60% of initial levels
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Pricing date: | Feb. 6
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Settlement date: | Feb. 13
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 1%
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Cusip: | 06745T509
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