Published on 11/1/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.96 million 7.15% contingent yield trigger autocalls tied to indexes
By Susanna Moon
Chicago, Oct. 30 – Barclays Bank plc priced $1.96 million of trigger autocallable contingent yield notes due Nov. 1, 2022 linked to the least performing of the Russell 2000 index and the DAX Index (Price Return), according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7.15% if each index closes at or above its 70% coupon barrier on the determination date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below its 70% downside threshold, in which case investors will be fully exposed to the 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: | Russell 2000, DAX Index (Price Return)
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| Amount: | $1,957,240
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| Maturity: | Nov. 1, 2022
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| Coupon: | 7.15% per year, payable quarterly if each index closes at or above 70% coupon barrier on determination date that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above 70% downside threshold, par; otherwise, 1% loss per 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on each quarterly observation date beginning Oct. 29, 2018
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| Initial levels: | 1,508.316 for Russell, 6,264.40 for DAX
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| Downside thresholds: | 1,055.821 for Russell, 4,385.08 for DAX; 70% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 31
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2.5%
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| Cusip: | 06746M214
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