By William Gullotti
Buffalo, N.Y., Nov. 30 – Barclays Bank plc priced $12.81 million of trigger autocallable contingent yield notes due Dec. 2, 2026 linked to the performance of the SPDR Dow Jones Industrial Average ETF Trust and the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.1% if each ETF closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if each ETF closes at or above its initial level on any quarterly observation date after six months.
If each ETF finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but at or above its 60% downside threshold, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETFs: | SPDR Dow Jones Industrial Average ETF Trust, Energy Select Sector SPDR Fund
|
| Amount: | $12,805,760
|
| Maturity: | Dec. 2, 2026
|
| Coupon: | 9.1% annual rate, payable quarterly if each ETF closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the coupon if each ETF finishes at or above coupon barrier; if worst performer finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline of the worst performer from initial level
|
| Call: | At par plus the coupon if each ETF closes at or above initial level on any quarterly observation date after six months
|
| Initial levels: | $354.11 for Dow, $84.65 for Energy
|
| Coupon barriers: | $247.88 for Dow, $59.26 for Energy; 70% of initial levels
|
| Downside thresholds: | $212.47 for Dow, $50.79 for Energy; 60% of initial levels
|
| Pricing date: | Nov. 28
|
| Settlement date: | Nov. 30
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 06748J219
|
|
|
© 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.
