Published on 9/6/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.62 million contingent 9.4% trigger callables on S&P, Russell, Stoxx
By Susanna Moon
Chicago, Sept. 6 – Barclays Bank plc priced $3.62 million of trigger callable contingent yield notes due Aug. 31, 2021 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 pay a contingent quarterly coupon at an annual rate of 9.4% if each index closes at or above its 70% coupon barrier on each day during that quarter.
The notes are callable at par on any quarterly observation date other than the final valuation date.
The payout at maturity will be par unless any 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 callable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $3,618,900
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| Maturity: | Aug. 31, 2021
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| Coupon: | 9.4% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on each trading day during 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 option: | At par on each quarterly observation date other than the final valuation date
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| Initial levels: | 3,456.13 for Stoxx, 1,734.749 for Russell and 2,914.04 for S&P
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| Trigger levels: | 2,419.29 for Stoxx, 1,214.324 for Russell and 2,039.83 for S&P, 70% of initial levels
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 1.25%
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| Cusip: | 06746U760
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