Published on 1/31/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.44 million 8.9% contingent yield trigger callables tied to indexes
By Susanna Moon
Chicago, Jan. 31 – Barclays Bank plc priced $3.44 million of trigger callable contingent yield notes due Jan. 27, 2028 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 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 8.9% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par of $10 on any quarterly observation date after six months.
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
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| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $3,435,000
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| Maturity: | Jan. 27, 2028
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| Coupon: | 8.9% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on observation date for 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 beginning July 24, 2018
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| Initial index levels: | 1,610.706 for Russell, 2,839.13 for S&P, 3,672.29 for Stoxx
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| Coupon barriers: | 1,127.494 for Russell and 1,987.39 for S&P, 2,570.60 for Stoxx; 70% of initial levels
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| Downside thresholds: | 805.353 for Russell and 1,419.57 for S&P, 1,836.15 for Stoxx; 50% of initial levels
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 3.5%
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| Cusip: | 06746P159
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