Published on 2/16/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – Barclays Bank plc priced $2 million of trigger callable contingent yield notes due Aug. 19, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent quarterly coupon at an annual rate of 9.55% if each index closes at or above its coupon barrier, 65% of its initial level, on each trading day during the observation period for that quarter.
The notes will be callable at par of $10 on each quarterly observation date prior to the final valuation date.
The payout at maturity will be par plus the contingent coupon, if any, unless any index finishes below its 60% downside threshold 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
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $2 million
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| Maturity: | Aug. 19, 2019
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| Coupon: | 9.55%, payable quarterly if each index closes at or above coupon barrier on each trading day during quarterly observation period
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| Price: | Par of $10
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| Call option: | At par quarterly on any coupon date other than the final date
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| Payout at maturity: | Par unless any index finishes below downside threshold, in which case 1% loss for each 1% decline of the worst performing index
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| Initial levels: | 2,316.10 for S&P, 1,388.844 for Russell, 3,270.83 for Stoxx
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| Coupon barriers: | 1,505.47 for S&P, 902.749 for Russell, 2,126.04 for Stoxx; 65% of initial levels
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| Downside thresholds: | 1,389.66 for S&P, 833.306 for Russell, 1,962.50 for Stoxx; 60% of initial levels
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 17
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 0.8%
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| Cusip: | 06745T871
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