Published on 11/1/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2 million 11% contingent yield trigger callables tied to indexes
By Susanna Moon
Chicago, Nov. 1 – Barclays Bank plc priced $2 million of trigger callable contingent yield notes due Nov. 1, 2022 linked to the least 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 annualized rate of 11% if each index closes at or above its 70% coupon barrier on the determination date for that quarter.
The notes are callable at on any quarterly determination date other than the final date.
The payout at maturity will be par plus the final coupon unless any index finishes below its 65% downside threshold, in which case investors will be fully exposed to the decline of the worst performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $2 million
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| Maturity: | Oct. 28, 2027
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| Coupon: | 11% per year, payable quarterly if each index closes at or above 70% coupon barrier on determination date that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above 65% downside threshold, par; otherwise, 1% loss per 1% decline of worst performing index
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| Call option: | At par on each quarterly observation date other than final date
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| Initial levels: | 1,493.478 for Russell, 2,557.15 for S&P and 3,591.46 for Stoxx
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| Coupon barriers: | 1,045.435 for Russell, 1,790.01 for S&P and 2,514.02 for Stoxx; 70% of initial levels
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| Downside thresholds: | 970.761 for Russell, 1,662.15 for S&P and 2,334.45 for Stoxx; 65% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 1%
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| Cusip: | 06746N501
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