Published on 12/26/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $285,000 7.7% contingent yield trigger autocalls tied to two indexes
By Susanna Moon
Chicago, Dec. 26 – Barclays Bank plc priced $285,000 of trigger autocallable contingent yield notes due Nov. 30, 2023 linked to the least performing of the S&P MidCap 400 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.7% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any quarterly observation date after one year.
The payout at maturity will be par unless either index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
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 MidCap 400, Russell 2000
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| Amount: | $285,000
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| Maturity: | Nov. 30, 2023
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| Coupon: | 7.7% annualized, payable quarterly if each index closes at or above its 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 downside threshold, par; otherwise, 1% loss per 1% decline of worse performing index
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| Call: | At par if index closes at or above its initial level on each quarterly observation date beginning Nov. 29, 2019
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| Initial levels: | 1,868.96 for S&P mid-cap, 1,530.384 for Russell
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| Downside thresholds: | 1,308.27 for S&P mid-cap, 1,071.269 for Russell, 70% of initial levels
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| Pricing date: | Nov. 28
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| Settlement date: | Nov. 30
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2.5%
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| Cusip: | 06746V461
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