Published on 1/20/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.74 million trigger phoenix autocallables linked to Nasdaq, Russell
By Devika Patel
Knoxville, Tenn., Jan. 20 – Barclays Bank plc priced $4,740,170 of trigger phoenix autocallable optimization securities due Jan. 22, 2026 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9% per year if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
Beginning Jan. 17, 2017, the notes will be called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and each index finishes at or above its barrier level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Nasdaq-100 and Russell 2000
|
| Amount: | $4,740,170
|
| Maturity: | Jan. 22, 2026
|
| Coupon: | 9% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon, if any, if each index finishes at or above trigger level; otherwise, full exposure to decline of lesser-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date from Sept. 28, 2016 onward
|
| Initial index levels: | 4,141.082 for Nasdaq-100 and 1,007.725 for Russell 2000
|
| Coupon barriers: | 2,898.757 for Nasdaq-100 and 705.408 for Russell 2000; 70% of initial levels
|
| Trigger levels: | 2,070.541 for Nasdaq-100 and 503.863 for Russell 2000; 50% of initial levels
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 21
|
| Agent: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06743T287
|
© 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.
