Published on 3/28/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $10.41 million trigger autocallable contingent yield notes on Stoxx, S&P
By Wendy Van Sickle
Columbus, Ohio, March 28 – Barclays Bank plc priced $10.41 million of trigger autocallable contingent yield notes due March 30, 2028 linked to the lesser performing of the Euro Stoxx 50 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 7.8% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related quarterly observation date.
After one year, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | Euro Stoxx 50 index, S&P 500 index
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Amount: | $10,405,470
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Maturity: | March 30, 2028
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Coupon: | 7.8%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
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Price: | Par of $10
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Call: | After one year, at par plus contingent coupon if both indexes closes at or above initial levels on any quarterly observation date other than the final one
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Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
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Initial index levels: | 3,316.95 for Stoxx, 2,612.62 for S&P
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Coupon barriers: | 2,321.87 for Stoxx, 1,828.83 for S&P; 70% of initial levels
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Downside thresholds: | 1,658.48 for Stoxx, 1,306.31 for S&P; 50% of initial levels
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Pricing date: | March 27
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Settlement date: | March 29
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Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
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Fees: | 3.5%
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Cusip: | 06746R205
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