Published on 3/13/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $21.2 million 7.35% contingent yield trigger autocalls on two indexes
By Susanna Moon
Chicago, March 13 – Barclays Bank plc priced $21.2 million of trigger autocallable contingent yield notes due March 2, 2028 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 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 7.35% if each index closes at or above its 70% coupon barrier on the observation date that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless either index finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses of the worse 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: | Russell 2000 and Euro Stoxx 50
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| Amount: | $21,202,000
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| Maturity: | March 2, 2028
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| Coupon: | 7.35% annualized, payable quarterly if each index closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above 50% downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly determination date beginning Feb. 26, 2019
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| Initial levels: | 1,559.332 for Russell, 3,463.18 for Stoxx
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| Coupon barriers: | 1,091.532 for Russell, 2,424.23 for Stoxx, 70% of initial levels
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| Downside thresholds: | 779.666 for Russell, 1,731.59 for Stoxx, 50% of initial levels
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| Pricing date: | Feb. 26
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| Settlement date: | Feb. 28
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 3.5%
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| Cusip: | 06746Q512
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