Published on 5/25/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.7 million 9.6% contingent yield trigger autocalls tied to three indexes
By Susanna Moon
Chicago, May 25 – Barclays Bank plc priced $4.7 million of trigger autocallable contingent yield notes due Nov. 23, 2020 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 pay a contingent quarterly coupon at an annual rate of 9.6% if each index closes at or above its 70% coupon barrier on each observation day during that quarter.
The notes are callable at par on any quarterly observation date after one year.
The payout at maturity will be par unless any underlying index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $4.7 million
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| Maturity: | Nov. 23, 2020
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| Coupon: | 9.6% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on each trading day 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 trigger level, par; otherwise, 1% loss per 1% decline of worst performing index
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| Call: | At par if index closes at or above its initial level on each quarterly observation date beginning Nov. 19, 2018
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| Initial levels: | 2,712.97 for S&P, 1,626.629 for Russell and 3,573.76 for Stoxx
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| Trigger levels: | 1,899.08 for S&P, 1,138.64 for Russell and 2,501.63 for Stoxx; 70% of initial levels
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| Pricing date: | May 18
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| Settlement date: | May 23
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 1%
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| Cusip: | 06746R163
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