Published on 12/30/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.35 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – Barclays Bank plc priced $3.35 million of trigger callable contingent yield notes due Jan. 2, 2020 linked to the S&P 500 index, the Nasdaq-100 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 9.05% if each index closes at or above its coupon barrier, 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 downside threshold level, 55% of its initial 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
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Issue: | Trigger callable contingent yield notes
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Underlying indexes: | S&P 500, Nasdaq-100, Euro Stoxx 50
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Amount: | $3,352,000
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Maturity: | Jan. 2, 2020
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Coupon: | 9.05%, payable quarterly if each index closes at or above downside threshold on each trading day during the observation period for that quarter
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Price: | Par of $10
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Call option: | At par quarterly on any coupon date other than the final date
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Payout at maturity: | Par unless any index closes below downside threshold, in which case 1% loss for each 1% decline of the worst performing index
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Initial levels: | 2,260.96 for S&P, 4,934.391for Nasdaq, 3,269.51 for Stoxx
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Coupon barriers: | 1,469.62 for S&P, 3,207.354.193 for Nasdaq, 2,125.18 for Stoxx; 65% of initial levels
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Downside thresholds: | 1,243.53 for S&P, 2,713.915 for Nasdaq, 1,798.23 for Stoxx; 55% of initial levels
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Pricing date: | Dec. 23
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Settlement date: | Dec. 30
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 1%
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Cusip: | 06745R370
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