Published on 6/5/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.41 million trigger autocallable contingent yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, June 5 – Barclays Bank plc sold $4.41 million of trigger autocallable contingent yield notes due May 28, 2027 linked to the lesser performing of the S&P 500 index and the Russell 2000 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 7.04% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning May 29, 2018.
The payout at maturity will be par plus the contingent coupon, unless either index finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $4,411,700
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| Maturity: | May 28, 2027
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| Coupon: | 7.04%, payable quarterly if each index closes at or above barrier level on observation date
|
| Price: | Par of $10
|
| Call: | Beginning May 29, 2018, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par unless either index finishes below downside threshold level, in which case 1% loss for each 1% decline of the worse performing index
|
| Initial index levels: | 2,415.82 for S&P, 1,382.244 for Russell
|
| Barriers: | 1,691.07 for S&P, 967.571 for Russell, 70% of initial levels
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| Thresholds: | 1,207.91 for S&P, 691.122 for Russell, 50% of initial levels
|
| Pricing date: | May 26
|
| Settlement date: | May 31
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06746K812
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