Published on 3/5/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $9.01 million step down trigger autocallables tied to Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, March 5 – Barclays Bank plc priced $9.01 million of 0% step down trigger autocallable notes due Feb. 28, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus a 7.91% call premium if each index closes at or above its initial level on any annual valuation date, aside from the final valuation date when the call level will be 70% of each index’s initial level.
If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold, 75% of its initial level, and investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Step down trigger autocallable notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $9,012,000
|
| Maturity: | Feb. 28, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Full exposure to decline of least-performing index from initial level
|
| Call: | At par plus 7.91% per year if each index closes at or above its initial level on any annual valuation date, aside from the final valuation date when call level will be 70% of each index’s initial level
|
| Initial index levels: | 2,779.6 for S&P 500 and 1,559.332 for Russell 2000
|
| Downside thresholds: | 1,954.72 for S&P 500 and 1,091.532 for Russell 2000; 70% of initial levels
|
| Pricing date: | Feb. 26
|
| Settlement date: | Feb. 28
|
| Underwriters: | Barclays Capital Inc. and UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06746Q538
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
