Published on 3/17/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.79 million trigger autocallables on two indexes
By Marisa Wong
Morgantown, W.Va., March 17 – Barclays Bank plc priced $3.79 million of 0% trigger autocallable contingent yield notes due March 15, 2027 linked to the MSCI EAFE index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon at an annual rate of 6.5% on a quarter 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 if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below the 50% downside threshold level, in which case investors will lose 1% for every 1% decline of the worse performing index.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | MSCI EAFE index and the MSCI Emerging Markets index
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| Amount: | $3,792,000
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| Maturity: | March 15, 2027
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| Coupon: | 6.5%, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the final coupon, if any, unless either index finishes below the downside threshold level, in which case investors will lose 1% for every 1% decline of the worse performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly observation date after six months
|
| Initial levels: | 1,763.90 for EAFE, 926.14 for EM
|
| Coupon barriers: | 1,234.73 for EAFE, 648.30 for EM; 70% of initial levels
|
| Downside thresholds: | 881.95 for EAFE, 463.07 for EM; 50% of initial levels
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| Pricing date: | March 10
|
| Settlement date: | March 15
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 06745T392
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