Published on 11/10/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.23 million trigger callable contingent yield notes on indexes
By Marisa Wong
Morgantown, W.Va., Nov. 10 – Barclays Bank plc priced $4.23 million of trigger callable contingent yield notes due Nov. 5, 2027 linked to the Russell 2000 index, the MSCI Emerging Markets index and the Euro Stoxx 50 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 11% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be callable at par on any quarterly observation date other than the final date.
The payout at maturity will be par plus the coupon, if any, unless any index finishes below the 50% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Russell 2000, MSCI Emerging Markets, Euro Stoxx 50
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| Amount: | $4,225,000
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| Maturity: | Nov. 5, 2027
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| Coupon: | 11%, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
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| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Call option: | At par on any quarterly observation date other than final date
|
| Initial levels: | 1,496.547 for Russell, 1,127.31 for MSCI EM, 3,688.80 for Euro Stoxx
|
| Coupon barriers: | 1,047.5829 for Russell, 789.117 for MSCI EM, 2,582.16 for Euro Stoxx; 70% of initial levels
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| Downside thresholds: | 748.274 for Russell, 563.66 for MSCI EM, 1,844.40 for Euro Stoxx; 50% of initial levels
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| Pricing date: | Nov. 2
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| Settlement date: | Nov. 7
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 1%
|
| Cusip: | 06746N733
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