Published on 3/10/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $6.59 million trigger callable contingent yield notes tied to indexes
By Wendy Van Sickle
Columbus, Ohio, March 10 – Barclays Bank plc priced $6.59 million of trigger callable contingent yield notes due March 13, 2020 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.
The notes will pay a contingent quarterly coupon at an annual rate of 9.52% if each index closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.
The notes will be callable at par of $10 on any quarterly observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 55% 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
|
| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
| Amount: | $6,585,000
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| Maturity: | March 13, 2020
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| Coupon: | 9.52%, payable quarterly if each index closes at or above 60% coupon barrier observation date that quarter
|
| Price: | Par of $10
|
| Call option: | At par quarterly on any coupon date other than the final date
|
| 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
|
| Initial levels: | 1,384.245 for Russell, 2,375.31 for S&P, 3,387.46 for Stoxx
|
| Barriers: | 899.759 for Russell, 1,543.95 for S&P, 2,201.85 for Stoxx; 65% of initial levels
|
| Downside thresholds: | 761.355 for Russell, 1,306.42 for S&P, 1,863.10 for Stoxx; 55% of initial levels
|
| Pricing date: | March 7
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| Settlement date: | March 14
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1%
|
| Cusip: | 06745T527
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