Published on 2/13/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.5 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – Barclays Bank plc priced $4.5 million trigger autocallable contingent yield notes due Feb. 10, 2023 linked to the Euro Stoxx 50 index, the Hang Seng index and the Nikkei 225 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 9.6% if each index closes at or above its coupon barrier, 65% of its initial level, on the observation date that quarter.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below the 65% downside threshold, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50 index, Hang Seng index and Nikkei 225 index
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| Amount: | $4.5 million
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| Maturity: | Feb. 10, 2023
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| Coupon: | 9.6%, payable quarterly if each index closes at or above coupon barrier on observation date that quarter
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| Price: | Par of $10
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| Call option: | At par plus on any quarterly observation date
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| Payout at maturity: | Par plus any coupon unless either index closes below downside threshold level, in which case will lose 1% for each 1% decline of the lesser-performing index from initial level
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| Initial index levels: | 3,454.52 for Stoxx, 30,323.20 for Hang Seng, 21,645.37 for Nikkei 225
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| Coupon barriers/thresholds: | 2,245.44 for Stoxx, 19,710.08 for Hang Seng, 14,069.49 for Nikkei 225; 65% of initial levels
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 12
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2.5%
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| Cusip: | 06746Q694
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