Published on 2/23/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $18.38 million trigger callable contingent yield notes tied to indexes
By Susanna Moon
Chicago, Feb. 23 – Barclays Bank plc priced $18.38 million of trigger callable contingent yield notes due Aug. 26, 2019 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.
The notes will pay a contingent quarterly coupon at an annual rate of 9.75% 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 any quarterly observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 65% 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
|
Issue: | Trigger callable contingent yield notes
|
Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
Amount: | $18,384,900
|
Maturity: | Aug. 26, 2019
|
Coupon: | 9.75%, payable quarterly if each index closes at or above 65% coupon barrier on each trading day during quarterly observation period
|
Price: | Par of $10
|
Call option: | At par quarterly on any coupon date other than the final date
|
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
|
Initial levels: | 1,399.862 for Russell, 2,351.16 for S&P, 3,308.81 for Stoxx
|
Thresholds: | 909.91 for Russell, 1,528.25 for S&P, 2,150.73 for Stoxx; 65% of initial levels
|
Pricing date: | Feb. 17
|
Settlement date: | Feb. 27
|
Agents: | UBS Financial Services Inc. and Barclays
|
Fees: | 1.5%
|
Cusip: | 06745T863
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.