Published on 6/5/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.93 million trigger autocallable contingent yield notes on Russell, Stoxx ETFs
By Wendy Van Sickle
Columbus, Ohio, June 5 – Barclays Bank plc priced $5.93 million trigger autocallable contingent yield notes due June 3, 2021 linked to the SPDR Euro Stoxx 50 ETF and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.3% if each ETF closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each ETF closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon, if any, unless either ETF finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing ETF from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETFs: | SPDR Euro Stoxx 50 and Russell 2000
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| Amount: | $5,931,780
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| Maturity: | June 3, 2021
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| Coupon: | 7.3%, payable quarterly if each ETF closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if each ETF closes at or above initial level on any quarterly observation date after six months
|
| Payout at maturity: | Par plus any coupon unless either ETF closes below downside threshold level, in which case will lose 1% for each 1% decline of the worse performing ETF from initial level
|
| Initial levels: | $39.00 for Stoxx, $161.52 for Russell
|
| Coupon barriers: | $27.30 for Stoxx, $113.06 for Russell, 70% of initial levels
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| Thresholds: | $27.30 for Stoxx, $113.06 for Russell, 70% of initial levels
|
| Pricing date: | May 29
|
| Settlement date: | May 31
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| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2%
|
| Cusip: | 06746R148
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