Published on 9/16/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.58 million trigger autocallable contingent yield notes on indexes
By Devika Patel
Knoxville, Tenn., Sept. 16 – Barclays Bank plc priced $4.58 million of trigger autocallable contingent yield notes due April 12, 2019 linked to the MSCI EAFE index and the Russell 2000 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 8.2% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning Sept. 14, 2017.
The payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below the 50% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index.
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: | MSCI EAFE and the Russell 2000
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| Amount: | $4.58 million
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| Maturity: | Sept. 17, 2026
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| Coupon: | 8.2%, payable quarterly if each index closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Call: | Beginning Sept. 14, 2017, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
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| Payout at maturity: | Par unless index closes below 50% downside threshold level, in which case will lose 1% for each 1% decline of the worse performing index
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| Initial levels: | 1,677.36 for MSCI EAFE, 1,212.320 for Russell
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| Coupon barrier levels: | 1,174.15 for MSCI EAFE, 848.624 for Russell, 70% of initial levels
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| Downside threshold levels: | 838.68 for MSCI EAFE, 606.160 for Russell, 50% of initial levels
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| Pricing date: | Sept. 13
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| Settlement date: | Sept. 16
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 3.5%
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| Cusip: | 06745B417
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