By Marisa Wong
Morgantown, W.Va., Oct. 6 – Barclays Bank plc priced $7.13 million of trigger autocallable contingent yield notes due Sept. 28, 2018 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 9.75% if the fund closes at or above the downside threshold level, 80% of the initial price, on the observation date for that quarter.
Beginning March 29, 2017, the notes will be called at par if the fund closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the fund finishes below the downside threshold level, in which case investors will be fully exposed to the fund’s decline from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying ETF: | SPDR S&P Bank ETF
|
Amount: | $7,134,500
|
Maturity: | Sept. 28, 2018
|
Contingent coupon: | 9.75%, payable quarterly if ETF closes at or above downside threshold on observation date for that quarter
|
Price: | Par of $10
|
Payout at maturity: | Par unless ETF finishes below downside threshold level, in which case full exposure to ETF’s decline from initial level
|
Call: | Beginning March 29, 2017, automatically at par if ETF closes at or above initial level on any quarterly observation date
|
Initial price: | $33.39
|
Downside threshold: | $26.71, 80% of initial price
|
Pricing date: | Sept. 28
|
Settlement date: | Sept. 30
|
Agents: | UBS Financial Services Inc. and Barclays
|
Fees: | 1.5%
|
Cusip: | 06745B268
|
|
© 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.