By William Gullotti
Buffalo, N.Y., Jan. 7 – Barclays Bank plc priced $5.99 million of trigger autocallable contingent yield notes due Nov. 30, 2026 linked to the lesser performing of the SPDR S&P Regional Banking ETF and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.23% if each ETF closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if both ETFs close above their initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the coupon if each ETF finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above its 60% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETFs: | SPDR S&P Regional Banking ETF, SPDR S&P 500 ETF Trust
|
| Amount: | $5,991,450
|
| Maturity: | Nov. 30, 2026
|
| Coupon: | 9.23% annual rate, payable quarterly if each ETF closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the coupon if both ETFs finish at or above coupon barrier; if the worst performer finishes below its coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline of the worst performer from initial level
|
| Call: | At par plus the coupon if both ETFs close above their initial levels on any quarterly observation date after six months
|
| Initial levels: | $75.26 for Banking ETF, $469.44 for S&P ETF
|
| Coupon barriers: | $52.68 for Banking ETF, $328.61 for S&P ETF; 70% of initial levels
|
| Downside thresholds: | $45.16 for Banking ETF, $281.66 for S&P ETF; 60% of initial levels
|
| Pricing date: | Nov. 24
|
| Settlement date: | Nov. 30
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 06747Y258
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
