Published on 5/11/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2 million trigger callable contingent yield notes on three indexes
New York, May 11 – Barclays Bank plc priced $2 million of trigger callable contingent yield notes due May 11, 2020 linked to the worst performing of 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 coupon at an annual rate of 10% if each index’s closing level is at least 63.5% of its initial level on the observation date for that quarter.
The notes will be callable at the issuer’s option on any quarterly observation date other than the final one at par of $10 plus any coupon.
If the notes are not called and each index finishes at or above its 63.5% downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger callable contingent yield notes with daily coupon observation
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50
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| Amount: | $2 million
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| Maturity: | May 17, 2027
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| Coupon: | 10% per year, payable quarterly if each index closes at or above its coupon barrier level on the observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of worst performing index
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| Call option: | At par plus any coupon on any quarterly observation date other than final date
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| Initial levels: | 2,399.38 for S&P, 1,391.639 for Russell, 3,642.11 for Euro Stoxx
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| Coupon barriers: | 1,523.61 for S&P, 883.691 for Russell, 2,312.74 for Euro Stoxx; 63.5% of initial levels
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| Downside thresholds: | 1,523.61 for S&P, 883.691 for Russell, 2,312.74 for Euro Stoxx; 63.5% of initial levels
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| Pricing date: | May 9
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| Settlement date: | May 16
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| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
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| Fees: | 1%
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| Cusip: | 06746J112
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