Published on 12/6/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $15.44 million 7% contingent yield trigger autocalls tied to two funds
By Susanna Moon
Chicago, Dec. 6 – Barclays Bank plc priced $15.44 million of trigger callable contingent yield notes due Dec. 2, 2027 linked to the least performing of the iShares Russell 2000 exchange-traded fund and the iShares MSCI Emerging Markets ETF, 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% if each fund closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par if each fund closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par plus the contingent coupon unless either fund finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses of the worse performing fund.
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 funds: | iShares MSCI Emerging Markets, iShares Russell 2000 ETF
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| Amount: | $15,441,320
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| Maturity: | Dec. 2, 2027
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| Coupon: | 7% annualized, payable quarterly if each fund closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each fund finishes at or above 50% downside threshold, par; otherwise, full exposure to decline of worse performing fund
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| Call: | At par if each fund closes at or above its initial level on each quarterly observation date beginning Nov. 29, 2018
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| Initial levels: | $152.86 for Russell fund, $47.36 for EM fund
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| Coupon barriers: | $107.00 for Russell fund, $33.15 for EM fund; 70% of initial levels
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| Downside thresholds: | $76.43 for Russell fund, $23.6 for EM fund; 50% of initial levels
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| Pricing date: | Nov. 28
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| Settlement date: | Nov. 30
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 3.5%
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| Cusip: | 06746N568
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