Published on 8/31/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.57 million trigger autocallables linked to S&P MidCap, Russell
By Angela McDaniels
Tacoma, Wash., Aug. 31 – Barclays Bank plc priced $2.57 million of trigger autocallable contingent yield notes due Aug. 30, 2019 linked to the lesser performing of the S&P MidCap 400 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.15% if each index closes at or above its downside threshold level, 70% of its initial level, on the observation date for that quarter.
Beginning Feb. 27, 2017, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below its downside threshold level, in which case investors will be fully exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | S&P MidCap 400 and Russell 2000
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| Amount: | $2,574,610
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| Maturity: | Aug. 30, 2019
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| Coupon: | 7.15%, payable quarterly if indexes close at or above downside threshold levels on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless either index finishes below downside threshold level, in which case full exposure to decline of lesser-performing index
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| Call: | Beginning Feb. 27, 2017, automatically at par if indexes close at or above initial levels on any quarterly observation date other than final one
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| Initial index levels: | 1,570.79 for S&P MidCap 400 and 1,244.943 for Russell 2000
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| Downside thresholds: | 1,099.55 for S&P MidCap 400 and 871.460 for Russell 2000; 70% of initial levels
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 06745B672
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