By Wendy Van Sickle
Columbus, Ohio, Oct. 14 – Barclays Bank plc priced $5.25 million of trigger callable contingent yield notes due Aug. 20, 2018 linked to the iShares MSCI EAFE exchange-traded fund, 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 8.55% if the fund’s closing level remains at or above its coupon barrier level, 75% 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 the fund finishes at or above its downside threshold level, 75% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the fund’s final level is below its initial level.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying ETF: | iShares MSCI EAFE
|
| Amount: | $5.25 million
|
| Maturity: | Aug. 20, 2018
|
| Coupon: | 8.55% per year, payable quarterly if fund closes at or above its barrier level each day that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless fund finishes below barrier level, in which case full exposure to any losses
|
| Call option: | At par quarterly
|
| Initial level: | $57.79
|
| Barrier/threshold: | $43.34, 75% of initial price
|
| Pricing date: | Oct. 12
|
| Settlement date: | Oct. 19
|
| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1%
|
|
|
| Cusip: | 06744M141
|
|
|
© 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.
