Published on 4/2/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3 million trigger autocallable contingent yield notes on Stoxx, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, April 2 – Barclays Bank plc priced $3 million trigger autocallable contingent yield notes due March 30, 2028 linked to the lesser performing of the Russell 2000 index, 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 12.35% if each index closes at or above its coupon barrier, 80% of its initial level, on the observation date for that quarter.
Beginning March 27, 2019, 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, unless any index finishes below the 80% downside threshold, in which case investors will lose 1% for each 1% decline of the worst 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: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $3 million
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| Maturity: | March 30, 2028
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| Coupon: | 12.35%, 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: | Starting March 27, 2019, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
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| Payout at maturity: | Par plus any coupon unless any index closes below downside threshold level, in which case will lose 1% for each 1% decline of the worst performing index from initial level
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| Initial levels: | 1,543.717 for Russell, 2,658.55 for S&P, 3,278.72 for Stoxx
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| Coupon barriers: | 1,234.974 for Russell, 2,126.84 for S&P, 2,622.98 for Stoxx, 80% of initial levels
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| Thresholds: | 1,234.974 for Russell, 2,126.84 for S&P, 2,622.98 for Stoxx, 80% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 29
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 3.5%
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| Cusip: | 06746R700
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