Published on 2/12/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $13 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – Barclays Bank plc priced $13 million trigger autocallable contingent yield notes with daily coupon observation due Feb. 11, 2021 linked to 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 13.75% if each index closes at or above its coupon barrier, 70% of its initial level, on each day that quarter.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below the 60% downside threshold, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger autocallable contingent yield notes with daily coupon observation
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $13 million
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| Maturity: | Feb. 11, 2021
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| Coupon: | 13.75%, payable quarterly if each index closes at or above coupon barrier on each day that quarter
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| Price: | Par of $10
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| Call option: | At par plus on any quarterly observation date
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| Payout at maturity: | Par plus any coupon unless either index closes below downside threshold level, in which case will lose 1% for each 1% decline of the lesser-performing index from initial level
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| Initial index levels: | 3,454.52 for Stoxx, 1,507.969 for Russell, 2,681.66 for S&P 500
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| Coupon barriers: | 2,418.16 for Stoxx, 1,055.578 for Russell and 1,877.160 for S&P 500; 70% of initial levels
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| Thresholds: | 2,072.71 for Stoxx, 904.781 for Russell and 1,609.00 for S&P 500; 60% of initial levels
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 12
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 1%
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| Cusip: | 06746Q736
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