Published on 7/21/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $7.85 million trigger autocallable contingent yield notes on indexes
New York, July 21 – Barclays Bank plc priced $7.85 million of trigger autocallable contingent yield notes due July 17, 2020 linked to the MSCI EAFE 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 6.65% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date beginning on Jan. 16, 2018.
The payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index 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: | MSCI EAFE and Russell 2000
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| Amount: | $7,850,300
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| Maturity: | July 17, 2020
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| Coupon: | 6.65%, payable quarterly if each index closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Call: | Beginning Jan. 16, 2018 at par plus contingent coupon if each index closes at or above initial level on a quarterly observation date
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| Payout at maturity: | Par plus any coupon unless index closes below 70% downside threshold level, in which case will lose 1% for each 1% decline of the worse performing index from initial level
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| Initial levels: | 1,918.74 for MSCI EAFE, 1,428.817 for Russell
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| Coupon barriers/thresholds: | 1,343.12 for MSCI EAFE, 1,000.172 for Russell; 70% of initial levels
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| Pricing date: | July 14
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| Settlement date: | July 19
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2%
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| Cusip: | 06746K143
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