Published on 5/31/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.35 million trigger autocallable contingent yield notes linked to Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., May 31 – Barclays Bank plc priced $6.35 million of trigger autocallable contingent yield notes due May 29, 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.
The notes pay a contingent quarterly coupon at an annual rate of 7.3% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning May 22, 2017, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold level, 50% of its initial level, in which case 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 autocallable contingent yield notes
|
| Underlying indexes: | Nasdaq-100 and Russell 2000
|
| Amount: | $6,347,480
|
| Maturity: | May 29, 2026
|
| Coupon: | 7.3%, payable quarterly if indexes close at or above coupon barriers on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
|
| Call: | Beginning May 22, 2017, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
| Initial levels: | 4,487.960 for Nasdaq-100 and 1,139.754 for Russell 2000
|
| Coupon barriers: | 3,141.572 for Nasdaq-100 and 797.828 for Russell 2000; 70% of initial levels
|
| Downside thresholds: | 2,243.980 for Nasdaq-100 and 569.877 for Russell 2000; 50% of initial levels
|
| Pricing date: | May 26
|
| Settlement date: | May 31
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06740Q468
|
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