E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 5/24/2016 in the Prospect News Structured Products Daily.

Barclays to price trigger contingent yield notes linked to indexes

By Angela McDaniels

Tacoma, Wash., May 24 – Barclays Bank plc plans to price trigger callable contingent yield notes with daily coupon observation due May 31, 2018 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each index’s closing level remains at or above its downside threshold, 65% of its initial level, on each day during that quarter. The contingent coupon rate is expected to be 8.65% to 10.65% per year and will set at pricing.

The notes are callable at par of $10 on each quarterly observation date other than the final one.

If the notes are not called and each index finishes at or above its trigger 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 are the agents.

The notes will price May 26.

The Cusip number is 06744K327.


© 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.