Published on 8/16/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $20.42 million trigger callable contingent yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 16 – Barclays Bank plc priced $20.42 million of trigger callable contingent yield notes due Feb. 20, 2019 linked to the worst performing of the Euro Stoxx 50 index, the S&P 500 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 an annual rate of 10.6% if each index’s closing level remains at or above its coupon barrier level, 65% of its initial level, on each day during that quarter.
The notes will be callable at par of $10 on any quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its 65% downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and Barclays Capital Inc. 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: | $20,415,000
|
| Maturity: | Feb. 20, 2019
|
| Coupon: | 10.6% 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 exposure to any losses of worst performing index
|
| Call option: | At par quarterly
|
| Initial levels: | 2,184.05 for S&P, 3,044.94 for Euro Stoxx, 1,229.820 for Russell
|
| Downside/barrier levels: | 1,419.63 for S&P, 1,979.21 for Euro Stoxx, 799.383 for Russell; 65% of initial levels
|
| Pricing date: | Aug. 12
|
| Settlement date: | Aug. 19
|
| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1%
|
| Cusip: | 06745B698
|
|
|
© 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.
