Published on 7/21/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4 million trigger callable contingent yield notes on three indexes
New York, July 21 – Barclays Bank plc priced $4 million of trigger callable contingent yield notes due July 20, 2027 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10.3% per year if each index closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.
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 level, 65% 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
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
|
| Amount: | $4 million
|
| Maturity: | July 20, 2027
|
| Coupon: | 10.3% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
|
| Call option: | At par on each quarterly observation date other than final one
|
| Initial levels: | 1,425.661 for Russell 2000, 2,447.83 for S&P 500 and 3,527.83 for Euro Stoxx
|
| Coupon barriers: | 926.680 for Russell 2000, 1,591.09 for S&P 500 and 2,293.09 for Euro Stoxx; 65% of initial levels
|
| Downside thresholds: | 926.680 for Russell 2000, 1,591.09 for S&P 500 and 2,293.09 for Euro Stoxx; 65% of initial levels
|
| Pricing date: | July 14
|
| Settlement date: | July 21
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1%
|
| Cusip: | 06746L885
|
|
|
© 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.
