Published on 2/5/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.01 million trigger autocallable contingent yield notes on indexes
By Tali Rackner
Minneapolis, Feb. 5 – Barclays Bank plc priced $3.01 million trigger autocallable contingent yield notes due Feb. 2, 2023 linked to the S&P 500 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 8.8% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
After one year, the notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
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: | S&P 500 and Euro Stoxx 50
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| Amount: | $3,008,800
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| Maturity: | Feb. 2, 2023
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| Coupon: | 8.8%, payable quarterly if each index closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation d | ate after one year
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| Payout at maturity: | Par plus any coupon unless either index closes below downside threshold level, in which case will lose 1% for each 1% decline of the lesser-performing index from initial level
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| Initial levels: | 2,853.53 for S&P, 3,643.04 for Stoxx
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| Coupon barriers/downside threshold: | 1,997.47 for S&P, 2,550.13 for Stoxx, 70% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Jan. 31
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | None
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| Cusip: | 06746P266
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