Published on 3/6/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $28.48 million trigger callable contingent yield notes tied to indexes
By Wendy Van Sickle
Columbus, Ohio, March 6 – Barclays Bank plc priced $28.48 million of trigger callable contingent yield notes due March 6, 2020 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% 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 any 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
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| 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: | $28,482,500
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| Maturity: | March 6, 2020
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| Coupon: | 10%, payable quarterly if each index closes at or above 65% coupon barrier on each trading day during quarterly observation period
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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 finishes below downside threshold, in which case 1% loss for each 1% decline of the worst performing index
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| Initial levels: | 1,386.684 for Russell, 2,364.64 for S&P, 3,319.61 for Stoxx
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| Coupon barriers: | 901.345 for Russell, 1,536.37 for S&P, 2,157.75 for Stoxx; 65% of initial levels
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| Downside thresholds: | 762.676 for Russell, 1,300.00 for S&P, 1,852.79 for Stoxx; 55% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 7
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 1%
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| Cusip: | 06745T541
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