Published on 11/15/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.83 million contingent yield trigger autocallables tied to indexes
By Susanna Moon
Chicago, Nov. 15 – Barclays Bank plc priced $5.83 million of trigger autocallable contingent yield notes due Oct. 30, 2026 linked to the Nasdaq-100 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 7.5% 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 if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the contingent coupon unless either index finishes below the 50% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index.
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: | Nasdaq-100 and the Russell 2000
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Amount: | $5,826,220
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Maturity: | Nov. 17, 2026
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Coupon: | 7.5%, 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: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date beginning Nov. 13, 2017
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Payout at maturity: | Par unless index closes below 50% downside threshold level, in which case will lose 1% for each 1% decline of the worse performing index
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Initial levels: | 4,751.951 for Nasdaq, 1,282.394 for Russell
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Coupon barriers: | 3,326.366 for Nasdaq, 897.676 for Russell; 70% of initial levels
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Downside thresholds: | 2,375.976 for Nasdaq, 641.197 for Russell; 50% of initial levels
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Pricing date: | Nov. 11
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Settlement date: | Nov. 16
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 3.5%
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Cusip: | 06745R792
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