Published on 9/22/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.93 million contingent yield trigger callables tied to two indexes
By Susanna Moon
Chicago, Sept. 22 – Barclays Bank plc priced $8.93 million of trigger callable contingent yield notes due Sept. 21, 2020 linked to the least performing of the Russell 2000 index and the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.1% if each index closes at or above its 70% coupon barrier on the determination date for that quarter.
The notes will be callable at par on any quarterly determination date after six months.
The payout at maturity will be par plus the final coupon unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline 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: | Russell 2000, for MSCI EAFE
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| Amount: | $8,929,700
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| Maturity: | Sept. 21, 2020
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| Coupon: | 9.1% per year, payable quarterly if each index closes at or above 70% coupon barrier on determination 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, full exposure to decline of worst performing index
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| Call option: | At par on each quarterly observation date beginning March 15, 2018
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| Initial levels: | 1,431.712 for Russell, 1,964.30 for MSCI EAFE
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| Downside thresholds: | 1,002.198 for Russell, 1,375.01 for MSCI EAFE; 70% of initial levels
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 20
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2%
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| Cusip: | 06746M701
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