Published on 4/7/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.64 million trigger callable contingent yield notes linked to three indexes
By Wendy Van Sickle
Columbus, Ohio, April 7 – Barclays Bank plc priced $6.64 million of trigger callable contingent yield notes due Oct. 6, 2021 linked to the least performing of the MSCI EAFE index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon if each index closes level closes at or above its barrier, 70% of its initial level, on the observation date that quarter. The contingent coupon rate is 8% per year.
The notes are callable at par of $10 on each quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold, 70% of its initial 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 are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Russell 2000, S&P 500 and MSCI EAFE
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| Amount: | $6.64 million
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| Maturity: | Oct. 6, 2021
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| Coupon: | 8% per year, payable quarterly if each index closes at or above its barrier on observation date that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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| Call option: | At par on each quarterly observation date other than final one
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| Initial levels: | 1,367.261for Russell, 2,358.57 for S&P 500 and 1,812.06for MSCI EAFE
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| Barriers/thresholds: | 820.357 for Russell, 1,415.14 for S&P 500 and 1.087.24 for MSCI EAFE; 60% of initial levels
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| Pricing date: | March 29
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| Settlement date: | March 31
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 1.65%
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| Cusip: | 06746J856
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