Published on 7/28/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $27.2 million trigger autocallable contingent yield notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, July 28 – Barclays Bank plc priced $27.2 million of trigger autocallable contingent yield notes due July 30, 2027 linked to the Euro Stoxx 50 index and the Russell 2000 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 6.95% 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 beginning July 30, 2018.
The payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below the 50% 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 are the agents.
Issuer: | Barclays Bank plc
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
Amount: | $27,203,510
|
Maturity: | July 30, 2027
|
Coupon: | 6.95%, payable quarterly if each index closes at or above coupon barrier on observation date
|
Price: | Par of $10
|
Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date beginning July 30, 2018
|
Payout at maturity: | Par plus any coupon unless 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: | 3,493.14 for Stoxx, 1,433.624 for Russell
|
Coupon barrier: | 2,445.20 for Stoxx, 1,003.537 for Russell, 70% of initial levels
|
Downside /thresholds: | 1,746.57 for Stoxx, 716.812 for Russell, 50% of initial levels
|
Pricing date: | July 27
|
Settlement date: | July 31
|
Agents: | UBS Financial Services Inc. and Barclays
|
Fees: | 3.5%
|
Cusip: | 06746L836
|
|
© 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.