Published on 1/14/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.6 million trigger callable contingent yield notes on indexes
By Marisa Wong
Morgantown, W.Va., Jan. 14 – Barclays Bank plc priced $5.6 million of trigger callable contingent yield notes due July 13, 2018 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 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 11.5% if each index closes at or above its barrier level, 65% of its initial level, on each day during the quarterly observation period.
The notes will be callable at par on any coupon payment date.
The payout at maturity will be par unless any index finishes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
|
| Amount: | $5,596,000
|
| Maturity: | July 13, 2018
|
| Coupon: | 11.5% per year, payable quarterly if each index closes at or above its barrier level each day for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger level, in which case full exposed to any losses of worst performing index
|
| Call option: | At par quarterly
|
| Initial levels: | 3,033.47 for Euro Stoxx, 1,046.202 for Russell, 1,922.03 for S&P
|
| Barrier levels: | 1,971.76 for Euro Stoxx, 680.031 for Russell, 1,249.32 for S&P; 65% of initial levels
|
| Trigger levels: | 1,668.41 for Euro Stoxx, 575.411 for Russell, 1,057.12 for S&P; 55% of initial levels
|
| Pricing date: | Jan. 11
|
| Settlement date: | Jan. 14
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.25%
|
| Cusip: | 06743T196
|
© 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.
