Published on 8/2/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells 1.03 million trigger autocallable contingent yield notes on two indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 2 – Barclays Bank plc priced $1.03 million trigger autocallable contingent yield notes due July 31, 2023 linked to the S&P 500 index and the MSCI Emerging Markets 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 7.65% if each index 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 index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the contingent coupon, unless either index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | S&P 500 and MSCI Emerging Markets
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| Amount: | $1,029,000
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| Maturity: | July 31, 2023
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| Coupon: | 7.65%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par plus coupon unless either index closes below downside threshold level, in which case will lose 1% for each 1% decline of the worse performing index from initial level
|
| Initial levels: | 2,828.82 for S&P, 1,092.36 for Emerging Markets
|
| Coupon barriers | 1,973.17 for Russell, 764.65 for Emerging Markets, 70% of initial levels
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| Downside thresholds: | 1,973.17 for Russell, 764.65 for Emerging Markets, 70% of initial levels
|
| Pricing date: | July 27
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| Settlement date: | July 31
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| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06746T417
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