By Tali Rackner
Norfolk, Va., July 7 – Barclays Bank plc priced $2.44 million of trigger autocallable contingent yield notes due June 28, 2019 linked to the lesser performing of the S&P MidCap 400 index and the Russell 2000 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 8.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter. Otherwise, no coupon will be paid for that period.
If each index closes at or above the initial level on any observation date beginning Dec. 28, 2016, the notes will be called at par plus the contingent coupon.
If the notes are not called and each index finishes at or above the 70% downside threshold, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to lesser performing index’s decline from its initial level.
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 MidCap 400 and the Russell 2000
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| Amount: | $2,441,600
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| Maturity: | June 28, 2019
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| Coupon: | 8.5%, payable quarterly if each index closes at or above 70% coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Call option: | At par if each index closes at or above its initial level on any quarterly observation date beginning on Dec. 28, 2016
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| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to any losses of worse performing index
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| Initial levels: | 1,442.5 for S&P MidCap and 1,107.298 for Russell
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| Barrier/Downside thresholds: | 1,009.75 for S&P MidCap and 775.109 for Russell; 70% of initial levels
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| Pricing date: | June 28
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| Settlement date: | June 30
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2%
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| Cusip: | 06740Q393
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