Published on 9/28/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $18.07 million trigger autocallable contingent yield notes on Russell, EM indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – Barclays Bank plc priced $18.07 million of trigger autocallable contingent yield notes due Sept. 30, 2027 linked to the MSCI Emerging Markets 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 7.25% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the contingent coupon, if any, 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 from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | MSCI Emerging Markets and Russell 2000
|
| Amount: | $18,067,650
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| Maturity: | Sept. 30, 2027
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| Coupon: | 7.25%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after a year
|
| Payout at maturity: | Par plus any coupon unless index closes below downside threshold level, in which case will lose 1% for each 1% decline of the worse performing index from initial level
|
| Initial levels: | 1,078.57 for MSCI Emerging Markets, 1,484.813 for Russell
|
| Coupon barriers: | 755.00 for MSCI Emerging Markets, 1,039.369 for Russell, 70% of initial levels
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| Downside thresholds: | 539.29 for MSCI Emerging Markets, 742.407 for Russell, 50% of initial levels
|
| Pricing date: | Sept. 27
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| Settlement date: | Sept. 29
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06746M735
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