Published on 12/15/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $12.51 million 10% contingent yield trigger callables tied to indexes
By Susanna Moon
Chicago, Dec.156 – Barclays Bank plc priced $12.51 million of trigger callable contingent yield notes with daily coupon observation due June 7, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 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 10% if each index closes at or above its 70% coupon barrier on each day for that quarter.
The notes are callable at par of $10 on each quarterly observation date.
The payout at maturity will be par unless any index finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses 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 with daily coupon observation
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| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $12.51 million
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| Maturity: | June 7, 2021
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| Coupon: | 10% per year, payable quarterly if each index closes at or above its 70% coupon barrier each day 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, 1% loss for each 1% decline of the worst performing index
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| Call option: | At par on each quarterly observation date
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| Initial index levels: | 1,537.021 for Russell, 3,527.55 for Stoxx and 2,642.22 for S&P
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| Coupon barriers: | 1,075.915 for Russell, 2,469.29 for Stoxx and 1,849.55 for S&P; 70% of initial levels
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| Downside thresholds: | 922.213 for Russell, 2,116.53 for Stoxx and 1,585.33 for S&P; 60% of initial levels
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| Pricing date: | Dec. 1
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| Settlement date: | Dec. 6
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 1%
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| Cusip: | 06746N386
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