Published on 12/6/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $18.33 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – Barclays Bank plc priced $18.33 million of trigger callable contingent yield notes due June 10, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 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 10.05% if each index closes at or above its barrier level, 65% of its initial level, on each trading day during the observation period for that quarter.
The notes will be callable at par of $10 on each quarterly observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 55% downside threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $18,325,000
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| Maturity: | June 10, 2019
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| Coupon: | 10.05%, payable quarterly if each index closes at or above barrier level on each trading day during the observation period for that quarter
|
| Price: | Par of $10
|
| Call option: | At par quarterly on any coupon date other than the final date
|
| Payout at maturity: | Par unless any index closes below barrier level, in which case will lose 1% for each 1% decline of the worst performing index
|
| Initial levels: | 2,191.95 for S&P, 1,314.253 for Russell, 3,015.13 for Stoxx
|
| Coupon barrier levels: | 1,424.77 for S&P, 854.264 for Russell, 1,959.83 for Stoxx; 65% of initial levels
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| Downside thresholds: | 1,205.57 for S&P, 722.839 for Russell, 1,658.32 for Stoxx; 55% of initial levels
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| Pricing date: | Dec. 2
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| Settlement date: | Dec. 9
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1%
|
| Cusip: | 06745R131
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