New Issue: Barclays sells $8.24 million 7.45% trigger callable yield notes on two ETFs

By Wendy Van Sickle

Columbus, Ohio, Jan. 30 – Barclays Bank plc priced $8.24 million of 7.45% trigger callable yield notes due May 2, 2024 linked to the iShares Russell 2000 ETF and the SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes are callable at par on any coupon payment date after three months.

The payout at maturity will be par unless the least-performing ETF finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the least-performing ETF from its initial level.

UBS Financial Services Inc. and Barclays Capital Inc. are the agents.

Issuer:	Barclays Bank plc
Issue:	Trigger callable yield notes
Underlying funds:	SPDR S&P MidCap 400 ETF Trust, iShares Russell 2000 ETF
Amount:	$8,236,270
Maturity:	May 2, 2024
Coupon:	7.45% per year, payable monthly
Price:	Par of $10
Payout at maturity:	Par unless least-performing ETF finishes below downside threshold, in which case 1% loss for each 1% decline of least-performing ETF from initial level
Call option:	At par on any coupon date after three months
Initial level:	$471.85 for SPDR S&P MidCap, $187.45 for Russell
Downside threshold:	$283.11 for SPDR S&P MidCap, $112.47 for Russell; 60% of initial level
Pricing date:	Jan. 25
Settlement date:	Jan. 30
Agents:	UBS Financial Services Inc. and Barclays Capital Inc.
Fees:	1%
Cusip:	06748D550

© 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.